commercial palm oil expellers in nigeria

commercial palm oil expellers in nigeria
                                               
                                               
                                               
                                               
  • commercial palm oil expellers in nigeria
commercial palm oil expellers in nigeria
commercial palm oil expellers in nigeria
commercial palm oil expellers in nigeria
commercial palm oil expellers in nigeria
  • How much palm oil is produced in Nigeria?
  • As of 2023, the production of palm oil in Nigeria was estimated to be 1,400 thousand metric tons, remaining stable compared to the previous year. In 2021, a growth rate of nearly 10 percent was registered.
  • Who are the biggest players in Nigeria’s oil palm space?
  • Okomu Oil Palm Company and Presco PLC, the largest players in Nigeria’s oil palm space collectively recorded a revenue increase of 67 percent year on year in the first half of 2021, reaching N45.09 billion from N26.98 billion in 2020.
  • 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.
  • Why is Nigeria not a good export market for palm oil?
  • Competitively, Nigeria is not well positioned in the export market for palm oil. This is because the country’s palm oil industry is dominated by smallholder farmers, who mostly rely on rudimentary facilities and methods in the cultivation and harvesting processes, which leads to significant losses or wastages.