Raedial Farms Hosts Investors, Stakeholders In Edo

Thu May 19th, 2022 - Edo

The management of Raedial Farms Limited has stated its commitment to bridging the huge gap in the crude palm oil (CPO) and palm kernel oil (PKO) supply in Nigeria as it recently received a team of investors and stakeholders in Edo State.

The investors and stakeholders, who were from United Capital, Suntrust Bank, Central Bank, Boston Advisory, Zenith Bank, CAGL Global, United Capital & United Bank of Africa, were received at the company’s plantation in Iguomokhua village, Orhionmwon local government area of Edo State, by the managing director and chief executive officer of the company, Mr. Uwadiale Agenmonmen.

Agenmonmen stated that the company has the capacity to bridge the huge CPO and PKO supply gap through the current expansion programme of her 1590-hectare oil palm plantation and mill.

Speaking shortly after the tour of the farm, Agenmonmen noted that funding and adequate government support remain a major challenge of the industry if it will rise up to become a giant that it used to be.

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He further stated that that there was no better time to invest on palm oil cultivation and production in Nigeria other than now particularly against the backdrop of the recent ban on the exportation of palm oil and oil palm produce by the Indonesian government.

He said rather than see the ban as a setback, it should be considered a blessing as this would lead to more investment in oil palm production in Nigeria.

“The business environment is interesting. There may be ups and downs but lately the palm oil value chain has been the best in a while, fostered by Indonesia shutting down their export recently and thereby putting the pressure back home. In recent times, people that normally import can no longer import palm oil and other products from Indonesia. So, the prices are going up and it is good for the farmers that actually cultivate and sell. In a nutshell, right now, the business environment is okay,” he said.




source: Leadership