3rd Africa Palm Oil (Rubber & Cocoa),

13-15 Oct, 2015 - Accra, GHANA

Labadi Beach Hotel

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News Feed

Presco plans Palm Oil Expansion in Nigeria; new investments in Cocoa, Rubber

Posted on : 24 Jun, 2015

Presco Oil Palm plc has recently announced expansion of its palm oil production in Nigeria. It plans to usher in millions of dollars into vegetable refineries and oil mills, in a move to boost Nigeria's local vegetable oil output and enable the nation to achieve self-sufficiency in palm oil.

 

Besides palm oil, Presco also plans to diversify into two major cash crops – cocoa and rubber.

 

To achieve greater yields and quality, Presco has also invested in biotechnology. In fact it has acquired a biotechnology company in Belgium that produces high performing planting materials.

 

For the past ten years, Presco has invested in a genetic bloc of oil palm and after planting for 5 years, they could add 20 tonnes per hectare with an extraction rate of 29 percent which means doubling oil yields per hectare.

 

Presco plans to produce high performing clones that are disease resistant. Not just palm oil, Presco also plans to use cloning for cocoa production too.

 

Presco has already succeeded in cloning rubber trees. It is the only company in this industry in the world to achieve this feat. Their first cloned rubber trees will be planted in Ivory Coast and Ghana. Cloning can help increase rubber yields by about 30 percent per hectare – about 2 to 3 tonnes more per hectare.

 

With these investments, Presco Oil is eyeing a profit of about N4 billion this year‎.

 

3rd Africa Palm Oil (Rubber & Cocoa) on 14-15 October, 2015 in Accra, Ghana will discuss more about palm oil, rubber and cocoa plantations in Africa.

 

Contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218 for more details.

 

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