high oil yield rate edible oil refinery plant in lagos

                                               
                                               
                                               
                                               
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  • How much palm kernel oil is consumed in Nigeria?
  • FAS Lagos forecasts Nigeria’s palm kernel oil consumption in MY 2021/22 at 440,000 metric tons (MT), up almost 29 percent or some 100,000 metric tons MT compared to the USDA official 2020/21 estimate of 340,000 metric tons.‌
  • How much palm oil will Nigeria produce in 2021?
  • FAS Lagos forecast Nigeria’s palm oil beginning stocks in MY 2021/22 at 59,000 MT, down by massive 88 percent compared to the USDA official MY 2020/21 estimate of 111,000 metric tons. In June 2019, the Nigerian government formulated a new policy that plans to invest some $500 million in oil palm production.‌
  • Which Nigerian palm oil companies are expanding production?
  • Two major Nigerian palm oil companies — Okomu Oil Palm Plc (OKOMUOIL) and PRESCO Plc — are expanding their production. PRESCO recently commissioned 500 MT capacity refinery that is presently running at 70% installed capacity.‌
  • Will Nigeria's palm kernel oil start stocks in 2021/22?
  • FAS Lagos forecast Nigeria’s palm kernel oil beginning stocks in MY 2021/22 at 3,000 metric tons (MT) unchanged from the USDA official MY 2020/21 estimate. Processors expect some increases in demand/price for palm kernel oil, especially for industrial uses (including usage as biofuel), in the upcoming marketing year.‌
  • Will Nigeria become a major oil market?
  • The country has the potential to become a significant market for oilseeds, oil meals, and oils for domestic and industrial consumption. FAS Lagos forecasts Nigeria’s palm oil imports in MY 2021/22 to reach 500,000 MT, up nearly 16 percent greater than the USDA official MY 2020/21 estimate of 430,000 metric tons.‌
  • How oil seeds research & development works in Nigeria?
  • Currently, oilseeds research and development work across Nigeria is leading to increase productivity and efficiency of oil seeds processing –soybean and peanut particularly. FAS Lagos’ estimates and projections for all the categories of oil seeds and products for 2021/22 are higher than the USDA estimates of previous year.