Can palm oil from Zambia cut back on crude oil imports?
The plantation boasts 2,800 hectares of palm plants, which when harvested will produce crude palm oil that is the basic ingredient in most vegetable oils on the market in Zambia. The locally produced palm oil will enable government to cut back on crude palm oil imports which currently stand at over US$70 million annually.
Is Zambia suitable for growing palm oil?
Although Zambia is not a traditional growing region for palm oil, it offers a competitive advantage due to its proximity to consumers in the region. The cost of importing edible oil from the Far East can account for around a third of its retail price, making it worthwhile to grow palm oil in Zambia despite the lower yields.
What is zampalm in Mpika?
Zampalm in Mpika is Zambia’s first ever palm plantation. The plantation boasts 2,800 hectares of palm plants, which when harvested will produce crude palm oil that is the basic ingredient in most vegetable oils on the market in Zambia.
Who owns the palm oil production in the Gambia?
The palm oil production in the Gambia is jointly owned by four Gambian nationals. The refined oil would be sold in the Gambia for local consumption, but 70% of it would be exported to other African countries due to the low consumption of palm oil in the Gambia.
Where is oil produced in Zambia?
The oil is then refined at the INDENI Refinery in Ndola (Copperbelt Province), with a current capacity of 850,000 metric tons per year, which is jointly owned by the Government of Zambia and an international oil company, Total Outre Mer.
What is the edible oil market in Zambia?
The market for edible oils in Zambia, of which palm oil is one component, is estimated at 120,000 tonnes per year, and this is expected to continuing growing as the country develops further. More than half of Zambia’s edible oil consumption is imported from the Far East, East Africa and South Africa.