The Palm Oil Market in Nigeria

Huatai News 2019-04-29 10:06:10
 Nigeria used to be the center of Palm Oil Industry, which last until the British established factories in Malaysia. Now Malaysia has become the leading exporter of palm oil in the world by taking advantages of plantation. While, palm in Nigeria still are panted by individual.

 FAQ predicted that the global demands for palm will double in 2020 and triple in 2050. Currently, the self-production amount of palm oil is near one million tons, but local consumption is up to 2.7 million tons. The gap of supply and demand is about 1.7 million tons. The 90% of self-production palm oil are used for noddle, edible oil, biscuit, chips, vegetable butter, baking, etc. 10% is used for washing, cosmetics, etc.

The revitalization of Nigeria palm oil industry need investor to make large-scale plantation instead of small farmers. The average palm oil output of per hectare in Malaysia and Indonesia can reach 80 thousand tons, the Nigeria’s is 50 thousand tons. That gap is mainly caused by the efficiency and oil yield rate between oil extraction plant and manual pressing.

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