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How much will palm oil cost in 2026?
This steady increase in the import price of Palm Oil into Nigeria over the past five years is indicative of a positive trend. It is likely that this trend will continue in the coming years, and we can expect the import price per kilogram of Palm Oil into Nigeria to reach $0.90 in 2026 and $1.00 in 2026.
How much palm oil does Nigeria produce a year?
Nigeria, the world fifth largest palm oil producer, consumes around two million tonnes of palm oil per year, half of which is imported, with local output at 800,000 to one million tonnes. Hefer said the big players like Okomu account for just 30 percent of local production, while small growers represent 70 percent.
Are We lobbying government to look into palm oil issues?
"We are seriously lobbying government to look into these concerns." Nigeria, the world fifth largest palm oil producer, consumes around two million tonnes of palm oil per year, half of which is imported, with local output at 800,000 to one million tonnes.
Does excessive rainfall affect oil palm production?
During a visit to Akwa Ibom and Edo states – arguably two of Nigeria’s key oil palm-producing states – PREMIUM TIMES gathered that excessive rainfall and weather fluctuations as currently being experienced also harm the FFB, reduce plantation quality, disrupt harvest activity and cause flooding.