peanut soybean industrial oil production line in lagos

   
peanut soybean industrial oil production line in lagos
                                               
                                               
                                               
                                               
  • peanut soybean industrial oil production line in lagos
  • Why did soybean production increase in Nigeria?
  • The production increase is attributable to favorable grower prices and sustained high demand for soy meal by the poultry sector. FAS Lagos forecasts Nigeria¡¯s soybean oil consumption in MY 2021/22 to reach 170,000 metric tons (MT), up nearly 58 percent greater than the USDA official MY 2020/21 estimate of 112,000 metric tons (MT).
  • Is soybean oil good for Nigeria?
  • Nigerian consumers give soybean oil high marks for health and quality benefits ¨C compared with other vegetable oils. FAS Lagos forecasts Nigeria¡¯s soybean oil imports in MY 2021/22 to reach 10,000 metric tons (MT), growing by more than 9,000 metric tons (MT) compared to the USDA official MY 2020/21 estimate of 1,000 metric tons.
  • 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.
  • 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.