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.
How much palm oil is produced in Malaysia?
Currently, 4.49 million hectares of Malaysian land is used for oil palm cultivation, that produces 17.73 million tonnes of palm oil and 2.13 million tonnes of palm kernel oil. Malaysia is one the largest producers and exporters of palm oil in the world, accounting for 11% of production and 27% of the export trade of all oils & fats.
What is Colombia’s palm oil production?
Colombia’s palm oil production may look like peanuts compared to Indonesia and Malaysia, but this resource is still considered a major crop for this country, after coffee and bananas. Colombia exported USD 245 million worth of palm oil in 2016 and currently produces 1.32 million tonnes of palm oil, up from 1.15 million in 2015.
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.
Are palm oil imports growing in Africa?
In 2018, the palm oil imports in Africa stood at 7.1M tonnes, surging by 5.1% against the previous year. Over the period under review, palm oil imports continue to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year.