O Ma R's Report
Monday, November 23, 1998
We had a conversation with Ing. Carlos Antunez Obando, General Manager of CAICESA - a producer of African palm oil. This oil is extracted from African palm trees, and harvest time had just begun when Hurricane Mitch struck. CAICESA is not the only company dedicated to growing African palm trees, but it is a typical one that helps illustrate Mitch's damage to another important crop that ultimately is used to create cooking oil and other domestic products. In the particular case of CAICESA, an estimated 80% of this year's crop was lost. Actually yields are expected to be reach only 15% of the normal yields. The worst part of the situation is that the river brought sand and muck that has covered the plantation's topsoil. Prior to replanting (new trees do not produce yields for at least five years), the company will have to decide what to do with all of the sand and mud that now covers the plantation grounds.
Ing. Antunez also mentioned that CIACESA's workforce is presently comprised of some 50% part-time workers - who will definitely will be affected by the company's shrinking operations. Reportedly the other full-time employees will not be reduced at this time.
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