Nigeria: Palm oil business profitable

Dealers in palm oil in Edo State have said that although the price of the commodity reduced recently, they still smile home at the end of the day. Daily Trust on Sunday learnt that a drum of palm oil is sold between N240,000 and N250,000 while a jerry-can of 20 litres costs N24,000. Ten litres of the commodity go for N12,000, four litres cost N5,500 while two litres sell at N1,600 and one litre goes for N800. Also, four litres of Okomu oil go for N5,800 while two litres of it cost N3,800. Some of the traders who spoke to Daily Trust on Sunday said they got their products from millers in the state, as well as major plantations, such as Okomu, Pressco. 2023 polls: Political trackers flay criticism of INEC Uncertainty clouds survival of Buhari’s agric programmes A dealer in the commodity, Mrs Judit Gabriel, said they bought from millers in the state. “The business of palm oil is good because it doesn’t have season. Once you have the product people must buy from you as long as they ...