A GVL statement issued in Monrovia further said the current global market environment which is at a low price point in the commodity cycle and Liberia itself today presents a challenging environment of comparatively high costs, uncertainties, and slow development of infrastructure and important regulations.
Currently, GVL appears be the largest oil palm company and the only agriculture investor actively expanding in Liberia.
The company has around 3,800 Liberian workers and management in Sinoe and Grand Kru, and operates in compliance with its concession agreement, legislation, Liberian and international regulations and community agreements.
GVL expects to start palm oil production this year and continues to expand oil palm cultivation with communities. In a new phase, GVL looks forward to new Government regulation on out-grower and smallholder oil palm, in order to expand community partnerships, the GVL Liberia statement released noted.