With the recent global palm oil crisis, there are increased efforts to enable Nigeria to take advantage of Indonesia’s palm oil export ban.
According to Analysts, global palm oil prices have soared, with other vegetable oils including sunflower and soy on similar trajectories, driving the UN Food and Agriculture Organization’s vegetable oil price index to a record high in February- a peak that has continued to rise.
Governor Charles Soludo of Anambra State, has undertaken “coconut and palm tree” planting campaign as part of his administration’s agro-economy restoration projects, aimed at promoting economic rebuilding, diversification and connecting the citizens to the limitless opportunities.
“Anambra could as well, benefit and reap export profits in some years to come,” a statement by the state government said.
“The economic tree planting is vital for the state survival, rebuilding the traditional economy, and diversifying the economy. Moreover, its value and purpose are to make the economy work for Ndi-Anambra and all the residents.
“Government has therefore urged families, communities and other local institutions to partner with the economic rebuilding and restoration project as the state has a vision of going to where M. I Okpara stopped with the palm oil/karnel revolution, and plant millions of palm trees and coconut, and other economic trees including the prestigious breadfruit popularly known as (úkwa).”