Price of Palm oil in Nigeria
Palm oil is a type of edible vegetable oil that is derived from the fruit of the oil palm tree. It is native to West Africa, but it is now widely cultivated in tropical countries around the world, including Indonesia and Malaysia, which are the world’s largest producers of palm oil.
The redish-yellow Palm oil is a popular ingredient in many types of food products, including margarine, shortening, and baked goods, as well as in non-food products such as soap and candles. It is also used as a cooking oil in many parts of the world.
Palm oil has a high level of saturated fat, which makes it solid at room temperature and gives it a long shelf life. It is also relatively cheap to produce, which has made it a popular choice for use in a wide range of products. However, the cultivation of oil palm has been linked to deforestation, habitat destruction, and other environmental problems, and there has been increasing concern about the negative impacts of palm oil production on the environment and on the rights of local communities.