larger processing capacity soybean oil equipment in lagos

larger processing capacity soybean oil equipment in lagos
                                               
                                               
                                               
                                               
  • larger processing capacity soybean oil equipment in lagos
larger processing capacity soybean oil equipment in lagos
larger processing capacity soybean oil equipment in lagos
larger processing capacity soybean oil equipment in lagos
larger processing capacity soybean oil equipment in lagos
  • Why did soybean production increase in Nigeria?
  • The production increase is attributable to favorable grower prices and sustained high demand for soy meal by the poultry sector. FAS Lagos forecasts Nigeria’s soybean oil consumption in MY 2021/22 to reach 170,000 metric tons (MT), up nearly 58 percent greater than the USDA official MY 2020/21 estimate of 112,000 metric tons (MT).
  • How much soybean will Nigeria produce in 2021/22?
  • FAS Lagos forecasts Nigeria’s soybean production in MY 2021/22 (October-September) to reach 1.25 million metric tons (MMT), up 43 percent or some 375,000 metric tons (MT) above the USDA official MY 2020/21 estimate of 875,000 metric tons (MT).
  • How much soybean is consumed in Nigeria?
  • FAS Lagos forecasts Nigeria’s soybean consumption in MY 2021/22 to reach 1.275 million metric tons (MMT), up 38 percent compared to the USDA official MY 2020/21 estimate. Consumption is growing in response to greater demand in food processing and feed use.
  • Will Nigeria’s soybean meal imports go up to 50,000 metric tons?
  • FAS Lagos forecasts Nigeria’s soybean meal imports in MY 2021/22 to go up to 50,000 metric tons (MT) as the exorbitant price of local soybean meal is alarming. Meanwhile, the lack of foreign exchange is a challenge for soybean meal imports. Exports are forecast to reach same 50,000 metric tons as forecast by the USDA official MY 2020/21 estimate.