Palm Oil Trade Fair In Africa Spot On Amid Growing Demand

From Minggu Simon Lhasa LAGOS (Nigeria), Dec 12 (Bernama) -- The Malaysia-Africa Palm Oil Trade Fair and Seminar 2011 (POTS) is spot on in terms of timing and its theme of "Seizing New Opportunities" as indicated by the big turnout of participants and growing export figures. While POTS South Africa in Johannesburg attracted some 200 participants, POTS Nigeria in Lagos attracted over 250 participants. The interest is not surprising as figures indicate a rise in palm oil exports to South Africa and Nigeria. The value of exports to Nigeria surged from US$55 million last year to well over US$410 million up to September this year, while exports to South Africa this year should exceed the 150,000 tonnes recorded last year. POTS Nigeria in Lagos today was officiated by Plantation Industries and Commodities Minister Bernard Dompok. Nigeria, although a producer of palm oil, still imports substantial quantities to meet the need of its population of around 160 million. The Bakrie Group of Indonesia recently announced a plan to invest US$1 billion in mining as well as oil palm and rubber plantations in Nigeria. -- BERNAMA