News Column

New Britain Palm Oil First-Half Production Ahead Of Previous Year

July 3, 2014

Hana Stewart-Smith

LONDON (Alliance News) - New Britain Palm Oil Ltd said Thursday that fresh fruit bunches and palm oil production in the first half of the year has been ahead of the previous year, driven by a particularly strong performance in May.

The company processed 1.3 million tonnes of fresh fruit bunches in the first half of 2014, compared to 1.16 million tonnes in the previous year.

From this, it produced 290,650 tonnes of crude palm oil, up from 254,633 in the previous year. It also produced 29,000 tonnes of pine kernel oil, up from 25,345.

It shipped 292,362 tonnes of oil, up from 284,552, at an average price of USD987 per tonne.

As at the end of June the company had 81,000 tonnes of crude palm oil sold or priced forward for 2014 at an average price of USD908 per tonne.

Shares in New Britain Palm Oil were trading up 2.3% at 486.10 pence Thursday morning.

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Source: Alliance News

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