Dekel Agri-Vision, a British agribusiness company, reported a notable 27 percent increase in turnover for fiscal year 2023, amounting to 33.8 million euros ($37 million). The surge in turnover was driven by a nearly 50 percent increase in the volume of palm oil (CPO) sold, totaling 38,896 tonnes. Despite a decline in the average selling price of CPO on the international market, the company expressed overall satisfaction with its performance. The increase in CPO supply by 51.7 percent, attributed to significant growth in fresh fruit cluster production, contributed to the positive outcome. Looking ahead, the company aims to address challenges, particularly improving the extraction rate of crude palm oil and stabilizing production in its cashew segment.
Operating in the Ivory Coast, Dekel Agri-Vision experienced substantial growth in palm oil production at its Ayenouan site, marked by a 56 percent increase in fresh fruit bunch production and a 512 percent surge in crude palm oil production in 2023. Despite the remarkable growth in palm oil production, the company noted a 21 percent decline in its shares due to falling prices. Additionally, Dekel reported challenges in its cashew operation, with plans for improvement in subsequent quarters. The company acknowledges the growing palm oil industry in Ivory Coast, presenting investment opportunities in response to local demand and the global significance of palm oil usage.