Malaysia’s Palm Oil Council (MPOC) is eyeing expansion in Nigeria, a key market for the country’s palm oil exports, as demand for the commodity continues to grow.
Belvinder Sron, chief executive officer of MPOC, disclosed this on Thursday at the Malaysia Market Connect in Lagos, stating that Malaysia sees significant market potential in Nigeria and West Africa.
“We see there’s still room to expand the exports of palm or palm products into this country,” Sron said. “Nigeria is a key market for Malaysian palm oil, with exports totalling 300,000 metric tonnes last year,” she noted.
“It’s very interesting, and there’s huge potential here still in this market,” she added.
Sron highlighted Nigeria’s potential for palm oil production, citing the country’s suitable climate and labour force. “Oil palm is not new to Nigeria, it’s not new to Africa. Oil palm came from West Africa,” explaining that Malaysia only commercialises the commodity.
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