bottom price palm kernel seeds oil processing plant in nigeria

bottom price palm kernel seeds oil processing plant in nigeria
                                               
                                               
                                               
                                               
  • bottom price palm kernel seeds oil processing plant in nigeria
bottom price palm kernel seeds oil processing plant in nigeria
bottom price palm kernel seeds oil processing plant in nigeria
bottom price palm kernel seeds oil processing plant in nigeria
bottom price palm kernel seeds oil processing plant in nigeria
  • How much palm kernel oil is produced in Nigeria?
  • A paid subscription is required for full access. In 2023, the production of palm kernel oil in Nigeria was estimated to be 393 thousand metric tons. Between 2010 and 2023, the crop of palm kernel oil in the country increased by 88 thousand metric tons.
  • What if Nigeria kept its market dominance in the palm oil industry?
  • According to the Central Bank of Nigeria (CBN), if Nigeria had maintained its market dominance in the palm oil industry, the country would have been earning approximately $20 billion annually from cultivation and processing of palm oil as at today. To meet the supply gap of palm oil, the country had to depend on importation over the years.
  • Does Nigeria have a supply gap for palm oil?
  • To meet the supply gap of palm oil, the country had to depend on importation over the years. However, in 2015, the CBN published a list of 41 items, including palm oil, as ineligible for forex through the Nigerian interbank market to encourage local production and manage foreign reserves.
  • How much palm oil is consumed in Nigeria?
  • Palm oil and palm kernel contribute about 65% to the total vegetable oils and fats consumed in Nigeria. This implies that palm oil and palm kernel oil demand and supply is 1,279,525 tonnes and 739,427 tonnes, respectively, leaving a gap of 540,098 tonnes annually.