Feronia Inc. announced earnings and operating results for the second quarter ended June 30, 2016. For the quarter, the company processed 35,560 tonnes of fresh fruit bunches (FFB) compared to 23,350 tonnes announced for the same period a year ago. The company produced 6,968 tonnes of Crude Palm Oil (CPO) compared to 4,534 tonnes for the same period a year ago.

For the quarter, the company announced revenue of $3.9 million (compared to $3.5 million for the same period a year ago) primarily from the sale of 5,124 tonnes of CPO at an average price of $661 per tonne. Net losses was $4.5 million compared to net profit of $0.2 million for the same period a year ago and the difference being largely driven by the non-cash change in the value of convertible debentures with an expense of $3.1 million in second quarter of 2016 compared to second quarter of 2015 gain of $4.6 million.