The National, Thursday 16th May 2013
THE New Britain Palm Oil Ltd (NBPOL) Group sold only 53,000 tonnes of crude palm oil at the end of March.
NBPOL’s disappointing first quarter – a combination of very low palm oil prices and strong kina – made it unsuitable for business.
The company said yesterday the sale achieved an average price of US$887 a tonne.
The figure was down from forward sales of 123,500 tonnes last February, at an average price of US$890 a tonne.
The company also confirmed advance sales of 168,000 tonnes of the vegetable oil in March last year when a strong market allowed it to realise US$1,105 per tonne.