Feronia Inc. announced financial and production results for the first quarter ended March 31, 2017. For the quarter, the company produced 26,301 tonnes of fruit against 21,277 tonnes a year ago, a year-over-year increase of 24%. The company produced 4,869 tonnes of crude palm oil against 4,045 tonnes, a year-over-year increase of 20%. Fresh fruit bunch yield for the three months of 1.58 tonnes per mature hectare against 1.49 tonnes per mature hectare a year ago.

For the quarter, the company reported revenues of $2,147,000 against $3,966,000 a year ago, primarily from the sale of 2,422 tonnes of CPO at an average price of $723 per tonne against 5,551 tonnes at $636 per tonne a year ago. Net loss was $5.8 million or $0.01 per share against net loss of $0.3 million or $0.01 per share a year ago, an increase largely the result of a decrease in finance income of $6,292,000.