last updated 28-Nov-2016
Currently, we have planted approximately 200 acres with about 8,000 trees, which have been bearing fruit since around 2007. After producing approximately 100 litres of oil in 2010 and around 710 litres of oil in 2011, we produced about 2280 litres in 2012, 6085 litres in 2013, 8190 litres in 2014 and 10,480 litres in 2015. Since early in 2012 we have been processing our own fruit, using semi-automated equipment purchased from NIFOR (Nigerian Institute For Oil-palm Research), and installed in our new building on the grounds of The Good Samaritan Society Mission Village. Our tractor and heavy duty disc harrow arrived in 2012 to help keep the farms free from fire and to facilitate additional crop farming in open spaces and spaces between the trees. See Photos for latest pictures. The mill operation video has also been updated - see the Videos page. The 2015 Annual Report has now been uploaded and is available on the Reports page.
The following graphs show how the harvest has been increasing exponentially and how the length of the harvest season has expanded. The trend continued into 2015, although with the increase beginning to approach a more modest rate of growth. We finished with just under 10,500 litres of oil in 2015, and our projecting to finish 2016 with around 13,000 litres.
Palm oil production in 2016 started slowly, but with a strong March through July production is now projected to finish at around 13,000 litres - about a 25% improveent over 2015. With oil prices up, revenue should at least meet if not exceed forecast by the end of the year.
After selling around 3,200 litres of oil in October, at an average price of just over 330 Naira / litre, revenues have caught up with expenses and are close to projections. Expenses are starting to run over projections, due to inflation and the higher cost of labor, but also because with cash on hand we have accelerated some investments and improvements to the farm. Nursery sales and maize and yam harvest have come in below projections, but oil prices continue to be high and will help compensate.
See the History page for a brief photo history of the project. More photos can be found on the Photos page, with a few detailed reports linked under Reports. Check out the Maps and the Videos! Questions or comments? Go to the Contact Us page.
The replacement tractor has shipped! We have purchased the Massey Ferguson shown below, and it shipped 15-November, with expected arrival in Nigeria on 16-December. Currently (Nov 28), the tractor is at the port in Algeciras, Spain, being transferred to another ship that will take it the rest of the way to Lagos.