Thursday, 15 October 2015

CBN’s Forex Restrictions on Crude Palm Oil: Economic Implications

The consumption of palm oil in Nigeria amounts to 1.0 million Metric Tonnes (MT) per annum. 90percent of palm oil is consumed by the food industry and the remaining 10percent is used by the non-food industry.
Foods like noodles, vegetable oil, biscuits, chips, margarines, shortenings, cereals, baked stuff, washing detergents and even cosmetics thrive on…

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