Ivory Coast has struck oil just as much of the developed world has begun to call time on fossil fuels and some financial institutions are reluctant to take carbon-emitting projects on to their balance sheets.
Who produces palm oil in Côte d’Ivoire?
PALMCI is a subsidiary of the Côte d¡¯Ivoire agribusiness group SIFCA. It is the main producer of crude palm oil in the region. The company was set up in 1997 and produces over 280,000 tons of crude palm oil a year, i.e. 70% of Côte d¡¯Ivoire¡¯s production.
How much palm oil does Côte d’Ivoire export?
Côte d¡¯Ivoire¡¯s Palm Oil exports are estimated at 320,000MT for MY2022/23. Exported Palm Oil products to overseas countries are shipped from the Port of Abidjan and Port of San Pedro. The main products exported are Crude Palm Oil (CPO) and, at a marginal amount, Kernel Palm Oil (KPO).
Which countries export Ivoirian palm oil?
Burkina Faso has been the second-largest destination for CPO exports over the last five years, followed by Ghana, Niger, Senegal, Spain, and the Netherlands. India and Cameroon have also recently started to import Ivoirian Palm Oil since MY2021. Exports have increased over the last five years at an average of 20 percent annually.