multifunction plant seeds soybean oil expeller in lagos

multifunction plant seeds soybean oil expeller in lagos
                                               
                                               
                                               
                                               
  • multifunction plant seeds soybean oil expeller in lagos
multifunction plant seeds soybean oil expeller in lagos
multifunction plant seeds soybean oil expeller in lagos
multifunction plant seeds soybean oil expeller in lagos
multifunction plant seeds soybean oil expeller in lagos
  • Will Nigeria need 450,000 Mt of soybeans in 2022/23?
  • In MY 2022/23 FAS Lagos forecast that Nigeria will require 450,000 MT to fill the consumption gap. On the soybean front, non-GE soybean is being planted to meet a niche demand in global markets. This is affecting domestic supply. As a result, the poultry sector is facing high feed costs.
  • 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 does Nigeria use soybean oil?
  • Nigeria further processes soybean meal to obtain oil for food and non-food uses, leftover cake goes to animal feed production. According to industry sources, local soybean oil faces competition from the less expensive imported soybean oil entering through cross border gray channels.
  • How are Nigeria’s oil seeds & products markets changing?
  • Nigeria’s oil seeds and products markets are changing rapidly as demographic changes occur due to the country’s youth and middle-class population growth. The three major utilization channels (Food consumption, industrial use, and feed usage) are undergoing robust growth rates.