Last checked at 13 Jan 2021 07:00
Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers
Dekel Agri-Vision Plc ('Dekel' or the 'Company')Advancement of Round Table for Sustainable Palm Oil Certification Process
Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to confirm that following significant advances made in 2020 preparing for the Round Table for Sustainable Palm Oil ('RSPO') certification process, it has now engaged Proforest to undertake the final RSPO pre-audit of the Company's 100%-owned, vertically integrated palm oil project at Ayenouan. Proforest is an established independent organisation specialising in sustainable practices in the natural resources sector.
As part of the pre-audit, Proforest will undertake a review of Dekel's programmes and management systems and assess the processes and procedures put in place by the Company to manage environmental and social risks and impacts. The Proforest team will also look to identify opportunities for value addition through the adoption of environmental and social improvements and initiatives. This will allow any final recommendations ahead of the formal RSPO audit process which the Company expects to undertake later this year.
In line with the above, a team from Proforest is due on site at Ayenouan in February 2021 (subject to any potential UK and South Africa travel restrictions) and the Company expects to receive a final report in Q2 2021. It is envisaged that the formal RSPO certification will commence as soon as practicable following receipt of the report, subject to the findings. It ought to be noted that the ongoing coronavirus pandemic may impact exact timings.
Dekel Agri-Vision Plc Executive Director Lincoln Moore said: "In our view, RSPO certification is a natural fit with the collaborative small farmer and co-operative model we have adopted across our portfolio of agriculture projects in West Africa and will provide further external validation of our ESG ('Environment, Social and Governance') standards.
"Placing local smallholders and communities at the centre of operations, our model has resulted in over 90% of the crude palm oil ('CPO') we produce at Ayenouan originating from fruit harvested by local smallholders, while our state-of-the-art nursery has been supplying farmers with hundreds of thousands of young trees each year over several years. As a result, we have developed long-lasting relationships with the local communities in which we operate and, together with the programmes and procedures we have put in place, we are confident we are on course to attain RSPO certification this year. At this point, Dekel will not only be Cote d'Ivoire's fourth largest CPO producer but one that is certified to operate in line with globally recognised best practices. The Board believes it will also potentially allow the Company to sell our CPO and PKO at a price premium."
Further Information on Proforest
Proforest works with companies through the whole supply chain across a broad range of agricultural commodities and forest products to implement responsible production and sourcing practices. Its engagement with the palm oil sector dates back to 2002 when Proforest worked with WWF and the Swiss supermarket Migros to develop the first ever social and environmental standard for palm oil production. Proforest, a trusted partner of RSPO, is a leading developer of RSPO certification systems and offers support for responsible palm oil production and sourcing.
Proforest has a strong track record in supporting sustainability in the palm oil sector, including working with major palm oil producers to understand the social and environmental risks involved in production, and developing and implementing sustainable palm oil policies and implementation plans. It currently works with over 25 companies across Africa, including major RSPO certified companies.
For further information please visit the Company's website www.dekelagrivision.com or contact:
Dekel Agri-Vision Plc Youval Rasin Shai Kol Lincoln Moore
| +44 (0) 207 236 1177 |
Arden Partners Plc (Nomad and Joint Broker) Paul Shackleton / Ruari McGirr / Dan Gee-Summons (Corporate Finance) Simon Johnson (Corporate Broking)
| +44 (0) 207 614 5900 |
Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King
| +44 (0) 203 137 1903 |
St Brides Partners Ltd (Investor Relations) Frank Buhagiar Cosima Akerman Megan Dennison | +44 (0) 207 236 1177 |
Notes:
Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company focused on West Africa. It has a portfolio of projects in Côte d'Ivoire at various stages of development: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders is processed at the Company's 60,000tpa crude palm oil mill; a cashew processing project in Tiebissou, which is due to commence production in Q2 2021.