Indonesia and Malaysia currently share 84 percent of the world palm oil output. The remaining % is made up of Nigeria, Columbia, and other countries.
The United States, China, India, the European Union, and Pakistan are the top buyers. The worldwide market capitalization is $61.1 billion USD.
Apart from reclaiming his place as a worldwide player in the business, Cee Cee Soludo wishes to use the free distribution of high-yielding Palm Seedlings to help many families and farmers break free from poverty.
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Soludo is motivated by his notion that our excellence is rooted in our rich history. As a result, he is cleaning up the pieces left by Dr. Michael Okpara’s administration, and his gaze is fixed on the whole value chain.
Every year, his administration would purchase one million high-yielding agricultural seedlings and deliver them to 100,000 farmers and households free of charge.
Each farmer receives ten free seedlings that begin producing in two to four years. The farmer would have obtained roughly 40 seedlings in four years, according to estimates.
This will be sufficient to allow such a household/farmer to leave poverty. This will be an empowering initiative for thousands of people working in the value chain sector, not simply farmers.
Fortunately, because palm oil is the most versatile of all vegetable oils, demand continues to rise.
Palm may be processed into a variety of products with different melting degrees, consistency, and properties.
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At the business level, global giants like Lever Brothers are notable purchasers of the items.
The good news is that, based on his actions thus far, Soludo is swiftly showing that great economics is terrific politics.
So it is with the Anambra footwear and palm oil industries. More are on the way as we make our way to our smart Megacity in Anambra, which will be livable and wealthy.
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