Best country in palmoil production in nigeria

                                               
                                               
                                               
                                               
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  • Is Nigeria a good producer of palm oil?
  • Emeka-Onyenacho argues that Nigeria is less of culprit than Indonesia and Malaysia — 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.
  • How much palm oil is produced in Nigeria in 2023?
  • In 2023, the production of palm oil in Nigeria reached 1.4 million metric tons. Between 2009 and 2023, the production quantity generally increased, registering the highest growth in 2010, when it grew by roughly 14 percent. From 2014 onwards, the output from palm oil production followed a rising trend.
  • 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.
  • What if Nigeria kept its market dominance in the palm oil industry?
  • According to the Central Bank of Nigeria (CBN), if Nigeria had maintained its market dominance in the palm oil industry, the country would have been earning approximately $20 billion annually from cultivation and processing of palm oil as at today. To meet the supply gap of palm oil, the country had to depend on importation over the years.