Adverse weather affected BOPP production

Takoradi, May 9, GNA- The Benso Oil Palm Plantation (BOPP), last year produced 84,409 metric tonnes of palm fruits recording a decline of three per cent over the previous year's production.

This was as the result of adverse weather conditions and intensified activities of competitors in the purchase of fruits from out-growers. These were contained in a report presented by Mr Ishmael E. Yamson, Chairman of Board of Directors of the Company, at the annual general meeting of share holders of the BOPP at Takoradi on Friday. He said production of crude palm oil also declined by 6.5 per cent thus 15,406 metric tonnes compared with the previous year's production. Mr. Yamson said despite these developments, revenue to the company increased by 44 per cent due to high palm oil prices.

He said the company registered a profit of 1.8 million Ghana cedis last year as compared to 1.23 million Ghana cedis in 2006. Mr. Yamson said the World market price of crude palm oil went up from an average of 459 US dollars in 2006 to average of 754 US dollars in 2007.

He said 521,500 Ghana cedis had been declared as dividend during the year under review and dividend per share was 0.0150 Ghana cedis. Mr Yamson said the company improved education, health and sanitation in Daboase, Benso, Adum Banso and Dominase, communities in its areas of operation, as part of its social responsibility to the people.