June 13 Ivory Coast natural palm oil producer Palmci's first quarter net profit plunged 35 percent year-on-year due to low palm oil prices, the company said on Thursday.
Net profit fell to 6.42 billion CFA francs ($13.02 million), compared with 9.87 billion CFA francs. Turnover slipped 26 percent to 31.25 billion CFA francs in the same period.
The company said annual palm oil production was expected to increase by 2 percent to about 290,000 tonnes this year compared with 283,000 tonnes in 2012. ($1 = 493.2190 CFA francs) (Reporting by Loucoumane Coulibaly; Editing by Bate Felix)