Global Market Size & Share Report on Sustainable Palm Oil Industry Will Reach to $30,100 Mn By 2026: Facts & Factors einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
Oluchi Chibuzor
Akuland Group Limited, owner of Akuland Farms has revealed that efforts were in top gear to address Crude Palm Oil (CPO) deficit in Nigeria and the West Africa region through its recently acquired 100 hectares palm plantation.
The Executive Director, Akuland Group Limited, Hajia Salamatu Salisu, made this known while addressing journalists at a media briefing to announce the recent acquisition of a 100 hectares palm plantation farm through a long term lease that will enable it meet up with the market demand of CPO product in the African region.
According to Salisu, it was disheartening how Malaysia and Indonesia and other countries became world power on CPO supply, after picking the seedlings from Nigeria many decades ago, while the oil palm industry languishes as a result of lack of attention given to the Agricultural industry.
India slashed the base import price of crude palm oil by $36 to $1,013 per tonne, the government said in a statement late on Friday. The government revises base import prices of edible oils, gold and silver every fortnight and the price is used to calculate the amount of tax an importer needs to pay. The world's biggest edible oil importer has levied 27.5 percent duty on crude palm oil imports.
Share this article
Share this article
PUNE, India, Jan. 28, 2021 /PRNewswire/ According to a recent market study published by Growth Market Reports (GMR), titled, Palm Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast , the market was valued at USD 44,712 Million in 2019 and is expected to grow at a growth rate of 5.6% by the year 2030. The global palm oil market is anticipated to grow owing to the rise in the use of palm oil in pharmaceutical and cosmetic industries. The rise in awareness among the consumers for the health are also some of the factors, which has led to the rise in the demand for the palm oil. These are some of the factors, which contributes for the growth of the palm oil market.
KUALA LUMPUR: Palm oil is heading for its lowest close in almost three months as traders assess mounting concern about the strength of demand against a voluntary lockdown in Malaysia’s top producing state.