Feronia Inc. reported unaudited earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $2.9 million against $2.3 million in 2013 including from the sale of 3,040 tonnes of CPO at an average price of $766 per tonne against 2,560 tonnes at $827 per tonne in 2013, 196 tonnes of palm kernel oil at an average price of $1,097 per tonne against 193 tonnes at $784 per tonne in 2013. Net loss attributable to the company was $5.6 million or $0.10 per share, compared to a loss of $2.9 million or $0.10 per share in third quarter of 2013.

For the quarter, the company produced 3,071 tonnes of crude palm oil against 1,694 tonnes in 2013 from 16,725 tonnes of fruit against 9,280 tonnes in 2013 a year-over-year increase of 81%. Fresh fruit bunch yield was 1.7 tonnes per ha against 1.6 tonnes per ha a year ago. Oil extraction rate was 18.36% against 18.25% in 2013.


For the nine months, the company produced 52,214 tonnes of FFB and 9,582 tonnes of CPO, representing an improvement against the corresponding period in 2013 of 52% and 50% respectively. The majority of the improvements relate to production from Yaligimba which made no contribution during the same time period in 2013.