Palm Oil Factory Bags $46 million

Accra - The Ghana Oil Palm Development Company (GOPDC) exported $46 million worth of palm oil between 1995 and December 1999.

The company exported 78,000 metric tonnes of oil within the period and made additional investment of $10 million to expand its farm to 17,000 hectares of palm plantation.

As a result 10,000 tones of fresh fruit bunches are collected in a range of 40 kilometers whilst 25,000 tones of oil are provided annually. The capacity of the palm oil mill was expanded from 30 metric tonnes to 48 metric tonnes per hour.

The company has also installed 45 metric tonnes per day palm kennel crushing plant. The factory installed a 6,200 metric tones capacity palm oil storage facility at Tema Harbor to enhance the exportation of palm oil. Currently, the world market price for palm oil has fallen by 50%.