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  • How oil seeds research & development works in Nigeria?
  • Currently, oilseeds research and development work across Nigeria is leading to increase productivity and efficiency of oil seeds processing –soybean and peanut particularly. FAS Lagos’ estimates and projections for all the categories of oil seeds and products for 2021/22 are higher than the USDA estimates of previous year.
  • How will Nigeria's soybean oil market perform in 2021/22?
  • FAS Lagos forecast Nigeria’s soybean oil beginning stocks in MY 2021/22 at 25,000 metric tons (MT) and ending stock of 20,000 metric tons (MT). Industry sources indicate that growers and crushers are expecting price increases for soybean oil, leading many to hold back product while anticipating better prices.
  • Which Nigerian palm oil companies are expanding production?
  • Two major Nigerian palm oil companies — Okomu Oil Palm Plc (OKOMUOIL) and PRESCO Plc — are expanding their production. PRESCO recently commissioned 500 MT capacity refinery that is presently running at 70% installed capacity.
  • Will Nigeria's peanut oil start stocks remain unchanged in 2021/22?
  • FAS Lagos forecasts Nigeria’s peanut oil beginning stocks in MY 2021/22 to remain unchanged at zero, like the USDA official MY 2020/21 estimate. Crushers and refiners are unwilling to keep stocks due to high production costs.
  • Why is Nigeria increasing its production of consumer-oriented processed food products?
  • Nigeria is increasing its production of consumer-oriented processed food products by utilizing palm kernel component for both domestic consumption and for export. Reportedly rising income-levels in Asian countries is resulting in increased demand for packaged foods with high palm and palm kernel oil content.
  • Will Nigeria become a major oil market?
  • The country has the potential to become a significant market for oilseeds, oil meals, and oils for domestic and industrial consumption. FAS Lagos forecasts Nigeria’s palm oil imports in MY 2021/22 to reach 500,000 MT, up nearly 16 percent greater than the USDA official MY 2020/21 estimate of 430,000 metric tons.