Dekel Agri-Vision (AIM:DKL), the West African agriculture company, said crude palm oil (CPO) production at its Ayenouan project in Côte d'Ivoire fell 15.4% in July versus a year earlier as the operation entered its seasonal low period.
The decline follows three consecutive months of year-on-year growth in April, May and June, and the extraction rate held broadly stable at 19.5%, against 19.6% in July 2025.
CPO sold at €945 per tonne, roughly in line with €952 a year earlier, though local prices continue to trade at a discount to international CPO, which remains above €1,200 per tonne.
Palm kernel oil (PKO) told a different story, with production up 62.0% and sales up 232.0% year-on-year, reflecting the batch nature of the business and elevated kernel stock levels.
PKO prices rose 13.4% to €1,333 per tonne, and the company expects production to stay elevated in the coming months given current stock levels.
At the Tiebissou cashew plant, the company processed approximately 800 tonnes of raw cashew nuts in July, a new monthly record since commissioning.
"Our Cashew Operation delivered a strong month... continuing the strong momentum built through H1 2026," said chief executive Youval Rasin.
Quarterly cashew production and sales data are due in October.
News Intelligence what this means for the company
Dekel's crude palm oil output fell 15.4% year-on-year in July as the Ayenouan mill entered seasonal decline, reversing three months of growth; extraction rates remained stable. The offsetting strength came from palm kernel oil—sales surged 232% and production rose 62%—and a record 800-tonne cashew processing month at Tiebissou, signalling momentum in the higher-margin cashew operation that has been expanding capacity.
The July CPO drop is cyclical and expected; the real signal is the cashew plant's record throughput and PKO's elevated output, which together suggest the company is diversifying away from seasonal palm oil volatility. However, CPO pricing remains discounted to global benchmarks (€945 vs €1,200+), a structural headwind that seasonal strength alone cannot resolve.
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