Dekel Agri-Vision Plc provided an August production update for its Ayenouan palm oil project in Côte d'Ivoire ('Palm Oil Operation') and an update on progress regarding the ramp-up of production of large-scale cashew processing plant at Tiebissou, Côte d'Ivoire (the 'Cashew Operation'). CPO Production: FFB quantities remained low during August which is typically the lowest performing month of the year. Early indications for September are promising, suggesting that volumes may be trending upwards following unusually low like-for-like monthly volumes since February.

The CPO extraction rate achieved of 19.4% was slightly lower than August 2021 but remained reasonable for a low season month. CPO and PKO Price: Local CPO prices in August 2022 achieved of €1,030 were 5.9% higher than July 2022 and 8.7% higher than August 2021. This was a pleasing result given International CPO prices softened slightly to approximately €1,050 - 1,100 per tonne.

There remains excellent local demand around the €1,000 price range which bodes well should FFB volumes continue to trend upwards over the coming months. Like-for-like PKO prices for the month of August were 46.6% higher than August 2021, continuing an excellent year of PKO prices achieved from regional export strategy and therefore remaining relatively high despite falling from €1,431 in July 2022. CPO Sales: 38.0% lower like-for-like CPO sales quantities in August reflect the 39.0% decrease in CPO produced in August 2022 compared to August 2021.

Cashew Project: All key equipment in order to ramp up production is now on site, including the 11 shelling machines which are now being installed and commissioned. The next few weeks are important in terms of integrating all equipment and should be in a position to report a significant uplift in production capacity at the time of next month's report. The Company will provide further updates as appropriate in respect of both the commissioning of the equipment and the ramp up in production.