How To Make Money From Palm Oil – Miller

A local palm oil miller in Edo State, Friday Osasuyi, has said that there is market for palm oil production and its value chain in…

A local palm oil miller in Edo State, Friday Osasuyi, has said that there is market for palm oil production and its value chain in the state.

Speaking with Daily Trust on Sunday on palm oil value chain, Osasuyi said some of the oil millers either own palm oil plantations or rent a plantation from farmers.

“In palm oil mill business, if you plant the palm, within a period of three years, they will start producing and by the fourth year, you will start harvesting.

“But if you don’t want to plant, you have to rent a plantation from farmers, and you can get a plantation for N1 million, N5 or N10 million depending on the size of the plantation.”