PwCX-raying the Nigerian palm oil sector PwC
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
According to data from the Malaysian Palm oil Council (MPOC), Nigeria's crude palm oil (CPO) import from Malaysia declined from 262,065 metric tonnes in the first nine months in 2021 to 171,011
palmkernelcakeExporting Nigerian Palm Oil A Comprehensive Guide
Type of Palm Oil Grades Specifications; Crude Palm Oil (CPO) A notable example is the movement of palm oil from Lagos to ports in Europe, where sea freight is the dominant
4 days agoIntroduction PRESCO PLC Producer of Specialty Fats and Oils. Presco is a fully-integrated agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel
BusinessDay NewsOkomu & Presco: A tale of two palm oil giants
The biggest palm oil producers raked in N88.67 billion in sales for the first six months of 2025 from N82.51 billion in the similar period of 2022. Further checks revealed Okomu Oil Palm recorded revenue of N38.07 billion
Domestic Crude Palm Oil (CPO) producers have benefited from the sustained rally in CPO prices, which have jumped 53.8% in the last twelve months. The price increase resulted in
CardinalStone Research PortalOil Palm CardinalStone
Nigeria Equity Research Oil Palm Sector Update Oil Palm PO prices and output consolidation to drive sales Domestic Crude Palm Oil (CPO) producers have benefited from the sustained rally in
global CPO prices with FEWSNET reporting an 18% YoY drop in prices to N505,023/MT. This largely accounted for the 9.1% YoY dip in Presco's top line over the first half of the year. 1 MT means
Malaysian Palm Oil CouncilMalaysian Palm Oil Sector Performance in 2020
The year 2020 posed quite a challenge to the Malaysian palm oil industry. The industry's overall performance last year was rather mixed. Compared to 2019, CPO production, palm oil stocks, exports, and imports of palm oil declined
Malaysia Palm Oil Industry. Malaysia is one of the world's largest palm oil exporters, and in 2020, Malaysia accounted for 25.8% and 34.3% of the world's palm oil production and exports respectively. At the same time, Malaysia is
Presco PlcHome Presco Plc
4 days agoIntroduction PRESCO PLC Producer of Specialty Fats and Oils. Presco is a fully-integrated agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel
The palm oil industry must look at the market competition map, starting from competing countries and other export opportunities to absorb palm oil products to increase state revenues. This paper
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According to the United States Department of Agriculture (USDA), Nigeria is the 5th largest producer of crude palm oil (CPO) with less than 2 percent of total global market production
for palm oil multiple times (Figure 6), limiting the size of inventories that can be held by merchants as well as suspending cooking oil and oilseed futures trading. Last month, the Indian government cut
Financial TimesFrom crude oil to palm oil: Nigeria strives to diversify
Domestic palm oil production grew from 1.03mn tonnes in 2017/18 to 1.26mn tonnes in 2020/21, according to the US Department of Agriculture. The USDA projects it will increase to
fatty acids and downstream uses: crude palm oil (CPO) extracted from the oil palm fruit is used primarily as edible oil, palm kernel oil (PKO) derived from the oil palm fruit impact on palm oil
- 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.
- Where does palm oil come from in Nigeria?
- While most of the palm oil is sourced from small farmers supplying to the local market, large producers, such as Presco and Okomu, are well placed to benefit from government support, strong international demand, and high prices. Nigeria depends on palm oil imports from Southeast Asia, importing c.25% of palm oil consumed in recent years.
- How much palm oil is consumed in Nigeria?
- In 2018, approximately 240,000 metric tons of palm oil consumed in Nigeria is used for non-food industrial purposes, while 1.1 million metric tonnes is used for food consumption related purposes. Nigeria being the fifth largest producer of palm oil in the world, needs to take the issue of sustainability in the palm oil industry very seriously.
- Which country exports the most palm oil in Africa?
- Despite Nigeria being the largest producer of palm oil in Africa, Benin was the largest exporter of the commodity from Africa in 2018, with Nigeria confined to the sixth position on the list of palm oil exporting countries in Africa. Palm oil exports were somewhat depressed in 2018 due to glut in oil production and supply.
- Is palm oil ineligible for Forex in Nigeria?
- 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. Also, duty charge of 35% was applied on crude palm oil (CPO).
- Which country produces the most palm oil in the world?
- In the early 1960s, Nigeria was the world's largest palm oil producer with global market share of 43%. Today, it is the 5th largest producer with less than 2% of total global market production of 74.08 million MT. In 1966, Malaysia and Indonesia surpassed Nigeria as the world's largest palm oil producers.
