Feronia Inc. Announces Major Seed Order
May 09 2011 - 12:56PM
Marketwired
Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN) is
pleased to announce that it has received an order for 756,000 oil
palm seeds from a West African operator. This is the largest
individual seed order received by the Company to date.
"We are pleased by the continued positive momentum in our seed
business" commented Bill Dry, COO of Feronia Oil Palm. "We have
received indications of interest from several groups planting oil
palms globally. Decades of research and development have gone into
the development of our seeds and resulted in excellent yields and
resistance to key diseases including Fusarium Wilt, a major issue
for oil palms in Africa. We are investing in the expansion of our
programme to meet increased demand internally and globally from new
and existing customers."
Yaligimba Seeds is the oil palm seed sales division of Feronia
Inc. The division is the beneficiary of decades of seed breeding
experience and accumulated data at Yaligimba Research Station, the
oil palm research division of Feronia Inc. Over 50,000 individual
palms are under detailed field recording at any one time and the
programme is considered to be one of the most extensive within the
industry. Through a combined breeding programme with Harrisons and
Crosfield the company has elite material from Malaysia, Indonesia
and Papua New Guinea. The programme also includes the best material
from Nigeria, Ivory Coast and Cameroon and other key Democratic
Republic of Congo origins.
Yaligimba Seeds' oil palm seeds are produced in the Democratic
Republic of Congo through a rigorous program of parental selection
and testing at the Yaligimba Research Station. Dura parents are
selected both from DxD crosses and DxT and TxT crosses. They
are:
-- Disease resistant
-- Give early yields to increase profitability
-- Give high yields of fresh fruit bunches (FFB) reaching as high as 30 t
FFB/ha in ideal conditions
-- Demonstrate exceptional bunch characteristics giving high extraction
ratios on milling
Pisifera palms are selected from progenies with outstanding
yields. The crossing programme is designed to bring together the
best characteristics from a wide range of origins. The best duras
are selected on the basis of oil yield and vegetative characters,
including reduced height increment and above average bunch index
(the ratio of fruit dry weight to total dry matter). The progenies
are evaluated in field trials for yield and disease resistance and
only elite pisifera parents are used for commercial seed
production.
Control and Germination
The presence of dura in plantings from commercially produced DxP
material plantings may follow inadequately controlled pollination.
This inevitably leads to lower profits. In stringent DxP surveys,
Yaligimba Seeds' oil palm seed regularly shows contamination less
than 0.5% dura in palms.
The application of very high quality standards throughout
production ensures every seed is healthy. We guarantee that
customers will get 85% germination with our dry heat-treated seed.
The process is simple and full germination instructions are
supplied with each consignment. Some customers have achieved in
excess of 95% germination.
Disease Resistance and Seed Health
Vascular wilt disease caused by Fusarium Oxysporum f.sp.elaeidis
is a major problem in Africa. To combat this disease selected
resistant material such as Yaligimba Seeds Wilt Resistant seed must
be planted.
In the Feronia programme in the Democratic Republic of Congo,
screening for resistance is done in the field as well as the
nursery. This means that parent plants that consistently transmit
resistance to their offspring can be identified and selected
resulting in seed with superior disease resistance.
The oil palm seeds are scrupulously cleaned and carefully
treated with protectant fungicides and insecticides. High priority
has been given to eliminating progenies with susceptibility to
diseases such as Cercospora.
In a joint research project with Bath University, Yaligimba
Research Station developed a technique which removes all fungi
including Fusarium spores, even those between the kernel and shell.
The seed is subjected to this special treatment prior to
export.
About Feronia Inc.
Feronia Inc. is a large-scale commercial farmland and plantation
operator in the Democratic Republic of the Congo ("DRC"). The
Company uses modern agricultural practices to operate and develop
its oil palm plantations and arable farming business division.
Feronia believes in the immense agricultural potential of the DRC
for high-quality foodstuffs and edible oils given its ideal
climate, excellent soil and highly skilled and experienced
workforce. Feronia's management team is comprised of senior
agriculturalists with extensive experience in managing both
plantations and large-scale mechanized farming operations in
emerging markets. Feronia is committed to sustainable agriculture,
environmental protection and providing support for local
communities. For more information please see, www.feronia.com.
Cautionary Notes
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
the stated use of proceeds; plan of operations and comparative
advantages; and benefits of this investment. There can be no
assurance that such statements will prove to be accurate; actual
results and future events could differ materially from such
statements. Factors that could cause actual results to differ
materially include, among others, regulatory risks, risks inherent
in foreign operations, commodity prices, competition, and
investments having no history of operations. Most of these factors
are outside the control of the Company. Investors are cautioned not
to put undue reliance on forward-looking information. Except as
otherwise required by applicable securities statutes or regulation,
the Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Feronia Inc. Ravi Sood Chairman (416) 907-2026
Ravi.Sood@feronia.com www.feronia.com
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