05 - 11 Apr 2021
Section 1: Price Direction
05 - 11 Apr 2021
Section 2 : Special Focus on the US
18 - 24 Oct 2021
Section 1: Oils & Fats Supply, Demand and Outlook
18 - 24 Oct 2021
Section 2: Opportunities for Palm Oil in Asian Market
24 Feb - 01 Mar 2020
Section 1 : CPO Price Trend
24 Feb - 01 Mar 2020
Section 2: Global Palm Oil Market Opportunities
22 - 28 Jun 2020
29 Jan - 04 Feb 2018
Section 1: CPO Price Trend
29 Jan - 04 Feb 2018
Section 2 : Global Palm Oil Market Focus
06 - 12 Aug 2018
Section 1: CPO Price Trend
06 - 12 Aug 2018
Section 2: Global Palm Oil Market Focus
22 - 29 Feb 2016
2016 Market Direction - Twists and Turns of Palm Oil Prices
22 - 28 Aug 2016
Section 1 : Palm Oil Price Fundamentals
22 - 28 Aug 2016
Section 2 : Trade Issues and Market Prospects
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Prospects For Second Half Of 2013 - Managing Price Fluctuations:
Expanding Africa's Oil Palm Plantation
Mr. Thompson Ayodele
Thompson Ayodele is the Director of Initiative for Public Policy Analysis, a public policy think tank based in Lagos, Nigeria. He attended Obafemi Awolowo University, Ile-Ife, Nigeria, where he got a degree in humanities, and Kwara State Polytechnic, Ilorin, Nigeria, where he also received his Diploma in Law. Prior to his work with IPPA Nigeria, he was a journalist with “The Comet,” now rested. Mr. Ayodele was Deputy Country Director, Students In Free Enterprise(SIFE) Nigeria from 2002 to 2006. He is currently a coordinator of Malaria Free Zones, a Free Africa Foundation Project, in Nigeria, Cameroon and Benin Republic. He is an avid writer and a frequent commentator on public policy issues in Nigeria. His articles have been published in the Wall Street Journal, New York Times, New York Post, Providence Journal, Washington Post, Baltimore Chronicle, Australia Financial Review, Business Day South Africa and several media outlets locally. He has also granted countless media interviews to the BBC, Swedish Television CNN, Irish Times, Associated Press (AP), Radio France International, Voice of America as well as Reuters. He has authored and co-authored many publications including, Does Nationalization Increase Investment? The Experience in Nigeria, The Nigerian Clothing Design Industry in Lessons from the Poor, edited by Alvaro Vargas Llosa, Public or Private Solution to Pension Problems in Nigeria, Drug Use in Nigeria: An informal survey of Doctors, Pharmacists, Healthcare workers in Lagos, Ondo and Ogun, African Case Study: Palm Oil and Economic Development in Nigeria and Ghana; Recommendations for the World Bank's 2010 Palm Oil Strategy, Public-Private Partnership: Will it Fix Infrastructure in Nigeria?, Corruption in the Nigeria SMEs Sector, Subsidizing artemisinin-based combination therapies: a preliminary investigation of the Affordable Medicines Facility – malaria, The Economic Regulation of Payment Cards in Nigeria and Safe Medicine and Intellectual Property Rights Protection in Nigeria. Mr. Ayodele is married with kids and has travelled widely.
Palm oil accounts for 34 per cent of the world’s annual production of vegetable oil and 63 percent of the global exports of vegetable oils. Palm oil has long-term benefits for the economy: creating more jobs and rural development. African countries’ experience of palm oil development provides a clear example of how palm oil, as a result of its high yields and low production costs is a highly effective means of alleviating poverty.

The expansion of oil palm plantations means establishing a steady supply for food demand tomorrow. According to the World Bank, demand for palm oil is expected to double by 2020. This growth is driven largely by rising consumption in China and India. Evidently, the cultivation of palm oil is not being driven by a single industrial sector but the global rise in demand for palm oil as a whole. Whether for food or energy needs, African producers are trying to benefit from this rise in demand to raise themselves out of poverty, increasing government revenue as a result.

Despite challenges, African producers are attracting investments at unprecedented rates. This has earned endorsements from international aid agencies such as the World Bank and the International Fund for Agriculture Development. In the same way, developed economies government should create a system that support palm production as a way to build a self sustaining African economies rather than the present regime of aid which often end in the pocket of few. Already, companies from South East Asia, the Americas and even Europe are looking to the continent to invest in the emerging agriculture sector – to the benefit of African producers and global food security.

For investors looking to participate in African growth, increasing Africa’s Oil palm plantation is the one to consider. Over a decade ago, few investors were giving African economies a sideways glance. But in the last few years, many countries in West Africa have attracted investment about $6bn specifically for palm oil plantation.

The increased demand for palm oil, together with its high yielding and easily manageable nature makes this particular product an attractive crop for farmers and investors alike. The industry in Africa is dominated for decades by smallholder farmers. The expansion in palm oil plantation is basically to address shortfall in local production coupled with the need to take advantage of the steadily rising demand from consumers across the emerging economies and from the bio-fuel sector globally. This is possible given the support from several African governments in Nigeria, Liberia, Ghana, Uganda, Ivory Coast and several other countries which see the crop as a cornerstone for economic development.

However if African nations are to continue to benefit from increased investment in oil palm plantation and the tremendous rewards of economic development and social empowerment accompanied oil palm development, international trade channels must remain open. Locally, African governments need to make land available and urgently resolved land-ownership disputes with existing investors which could delay operations and consequently dim further expansion drive.

Long-term employment in the sector requires access to markets. Palm oil production cannot occur in absence of demand, both global and domestic. European biofuels demand is one part of many required to support the sector. Nevertheless, investing in the expansion of oil palm plantation today means establishing the supply for food demand tomorrow. This can only be accomplished by expanding palm oil cultivation in Africa, one of the last regions with sufficient land available for cultivation.
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