Company appeals for more land for expansion

Benso , (W/R), April 24, GNA - The management of Benso Oil Palm Plantation (BOPP) Limited has appealed to chiefs and land owners in its operational area to release more land to the company for expansion. Speaking at the annual open day of the company, at Benso on Monday, Mr. Neneyo Mate-Kole, Managing Director said expansion of the plantation would not only enhance the company's operations but would also benefit the communities in its catchment areas.

The open day is held annually during which stock brokers and media are offered the opportunity to observe the activities of the company. He said the main problem facing the company is land acquisition which has made it impossible for the company to realize its full potential. On the company's performance in 2007, he said, it achieved a total fruit bunches production of 84,409 metric tones, representing three per cent fall from 2006.

In spite of the shortfall, the company's profit was not affected mainly because of increase in world market prices of crude palm oil which averaged 459 dollars in 2006 to 754 dollars in 2007. He attributed the shortfall in production mainly to adverse weather conditions and intensified competition for outside purchase fruits. We are addressing the declining rainfall by constructing moisture conservation pits and closed ended trenches to harvest rainwater for the palm trees, he said, adding that, so far 75,000 cubic metres of pits have been constructed.

The company is also resolving the problem of outside purchased fruits through the signing of a memorandum of understanding with out-growers and offering them extension services and financial assistance. He said the company is undertaking a 1.4 million dollar energy project using its bi-products to generate about 1.5 megawatts of power to enhance its energy supply and this is expected to reduce the energy cost to the company and free more power from the national grid for other users.

On corporate social responsibility, Mr. Mate-Kole said the company has been assisting communities in its operational area in the provision of infrastructure for education, health and sanitation. The brokers and media men who were conducted round the company's plantations and mill by Mr. Samuel Avala, Estate Manager of BOPP expressed satisfaction with its performance.