Vegetable oils and vegetables exports 2018 excerpt

Vegetable Oils and Vegetables Exports

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Vegetable Oils and Vegetables Exports

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Vegetable Oils and Vegetables Exports

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Vegetable Oils and Vegetables Exports

Content

Executive Summary 6 Introduction 9 Global Ve getable Oils Production

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Variations in Global Vegetable Oils Production

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How are Vegetable Oils Consumed Globally?

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Global Usage of Soybean Oil 29 Global Usage of Rapeseed Oil 32 Domestic and Industrial Usage of Sunflower Seed Oil

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Nigerian Vegetable Oils Exporters make Inroad into Global Market 36 Focus on Indeginous Vegetable Oils Exporters

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Vegetables Export 52 Sustainable Agriculture 66

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Vegetable Oils and Vegetables Exports

Executive Summary Following the move to make

foreign income to the nation, 3.14

agriculture a business in Nigeria

percent higher than the entire export

as against being treated as a

in 2016, meaning that the figure will

development program, a number of

be far higher by year end. With regards

investors and companies have taken

to vegetable oils, total annual income

up the challenge. Particularly, in

from export of vegetable oils continue

the last two years, Nigeria’s non-oil

to hover around N90 billion. Both

exports have received a boost from

vegetables and vegetable oil exports

the Federal Government of Nigeria,

are subjected to stringent international

Federal Ministry of Agriculture and

standards that must be met before

Rural Development; the Central Bank

such goods are allowed into the

of Nigeria (CBN), Bank of Industry

international markets.

(BoI); the Nigerian Investment

Palm oil remains the most produced

Promotion Commission (NIPC)

and consumed vegetable oil in the

and with support from the African

world accounting for 34 percent

Development Bank(AfDB). How do

of the global oil production and

we measure the progress recorded few

consumption. It is closely followed

years down the line? We take a look

by soybean oil, rapeseed oil and

at the export of vegetable oils and

sunflower oil, and altogether,

vegetables.

they account for 89 percent of the

Nigeria’s export of vegetables

global vegetable oils production

amounted to an average of N400

and consumption. Indonesia, the

billion annually. In 2016, vegetables

European Union, Malaysia, China and

export generated N413 billion foreign

Thailand are the world’s biggest palm

earnings to Nigeria. Interestingly, in

oil consumers. The largest industrial

just nine months in 2017, the same

users of soybean oil are USA, Brazil,

item has generated N426.6 billion

Argentina, EU and Bangladesh,

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Vegetable Oils and Vegetables Exports

while China, USA, Brazil, India and

Thelma Farms Limited is the leading

Argentina are the largest domestic

exporter of vegetables. Data were

users of soybean oil.

sourced from the National Bureau

Flour Mills of Nigeria and PZ

of Statistics (NBS), Pre-shipment

Cussons are among the leading

inspection documents, Index Mundi,

exporters of vegetable oils while

FEDOIL, CBI Ministry of Foreign Affairs, CME Group, UFOP, Food and

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Vegetable Oils and Vegetables Exports

Agriculture Organisation (FAO),

specifications for the different

USDA Foreign Agricultural

variants of vegetable oils are stated

Service and Hort Zone.

in the report alongside those of the

The success recorded so far by these firms is encouraging.

Notwithstanding, more

Standards Organisation of Nigeria (SON).

As other countries increase

has to be done for Nigerian

investments in agriculture,

exporters to be dominant in

Nigerian exporters of vegetables

the international market for

and vegetable oils should prepare

these products. Meanwhile, as

for stiff competition from their

consumers demand for healthier

rivals. Another area of challenge

diets across the world, most

is sustainable agriculture, which

of the countries of the world

is gathering momentum in the EU

have become more stringent

with effect that operators from

with standards. Particularly

the different supply chains are

in the European Union whose

mandated to source raw materials

members are the destinations

from agricultural production

of Nigeria’s vegetable oil and

systems that are sustainable.

vegetables exports, the standard

FULL REPORT