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.
What is the most economical source of cooking oil in Nigeria?
The most economical crop and source of cooking oil is the oil palm, which yields a higher quantity of cooking oil (vegetable oil) when compared to other sources (rapeseeds which are touted as the primary source of vegetable oil in Europe). Palm oil is highly rich in carotene and is an essential cooking oil in Nigeria.
How is palm oil made in Nigeria?
This is carried out in air columns and by a water bath. Silo is used to drying the kernels and then packed in bags for sale. Palm oil, which is extracted from the fleshy mesocarp of the palm fruit, has been a vital resource in most Nigerians diet. The global need for palm oil is fast increasing because it serves as a source of income.
Is Nigeria a good producer of palm oil?
Emeka-Onyenacho argues that Nigeria is less of culprit than Indonesia and Malaysia ¡ª the world¡¯s top palm oil producers. ¡°Nigeria isn¡¯t cutting down and burning forests as much,¡± he notes. Some producers are also signing up to certification schemes, such as the one run by the Roundtable on Sustainable Palm Oil.