Nigerian ports have taken delivery of 443,548 metric tonnes of crude palm oil valued at $393.4 million between January 2023 and October 2024, following low production, cheaper price and high demand for domestic and industrial consumption.
Findings revealed that a tonne of imported crude palm oil is $887, while it costs $1,185 per tonne in the local market, leading to a difference of 25 per cent.
However, despite short production in the country, statistics obtained from the Nigerian Ports Authority (NPA)’s Shipping Position indicated that only 139,505 metric tonnes of crude palm oil valued at $124 million were shipped in the last 10 months from Malaysia, Thailand and Vietnam…
Read more at Newtelegraphng
Findings revealed that a tonne of imported crude palm oil is $887, while it costs $1,185 per tonne in the local market, leading to a difference of 25 per cent.
However, despite short production in the country, statistics obtained from the Nigerian Ports Authority (NPA)’s Shipping Position indicated that only 139,505 metric tonnes of crude palm oil valued at $124 million were shipped in the last 10 months from Malaysia, Thailand and Vietnam…
Read more at Newtelegraphng