An executive of Agripalma Lda, which runs the first palm oil processing plant in São Tomé e Príncipe, says his company hopes to export some of the output of the plant to China, Lusa reports.

The Portuguese news agency quotes the general manager of the plant, José Cortez Pereira, as saying the organic palm oil it produces will meet European Union and Chinese standards.

Mr Cortez Pereira said the Chinese market for organic products was expanding.

The report says Agripalma can process 10,000 tonnes of palm oil a year.

Socfinco of Belgium spent 30 million euros (US$33.5 million) on building the plant, which employs over 850 workers, the report says.

Agripalma will help reduce São Tomé e Príncipe’s “huge” trade deficit, Lusa quotes São Toméan Prime Minister Jorge Bom Jesus as saying yesterday at the opening of the plant.