OIL PALM BUSINESS: A HIDDEN TREASURE

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The palm oil industry is experiencing a dynamic shift, driven by growing demand for  sustainable and Eco–friendly products.  Malaysia being the world’s second largest palm oil producer, is expected to  see a decline in stocks to around 1.7 million metric tons by the end of this year which is already ended, as production slows and exports rise to meet season demands.

The global palm oil market is projected to grow from $469.46 billion in 2025 to $483.82 billion by 2034 at a Compound Annual Growth Rate  of 4.8%. This signify the rate at which the industry’s revenue or production grows annually over a specific period.

This industry is large to employ a lot of job seekers.   By products (Crude Palm Oil,  RBD Palm Oil). By nature (Organic, Conventional), By End Use (Food and Beverage, Personal Care and Cosmetics, Bio-fuel and Energy, Pharmaceutical, Industrial)

 

In our online conversation with Ogunsola Bisola Jola, Managing Director, Assetrise Limited,  Oil Palm is like a hidden treasure whose income is unprecedented and investment is very  flexible. It can be outsourced,  collaborated and outright partnership. An investor can give a  consultant money to invest while remitting the returns on investment appropriately. The investor can co – manage the farm etc. A hectare of land can  accommodate 60 palm trees which generate an average income   of N2.4m  annually while 10 hectares accommodate at least  1,200 palm trees which can generate an average income of N60m yearly.

The sector also provides employment  for millions of people directly and indirectly. However, it”s estimated that the sector supports around 2 – 3 million people yearly, which is a significant portion of the country’s workforce