Nigerian palm oil importers are to enjoy a 100 percent exemption on crude palm Oil (CPO) from Malaysian export duty from July till December 31, 2020.
The move is part of efforts to enable the buyers to ferry about 295,000 metric tonnes of the produce valued at N77.06billion ($171.24million) at a reduced price of $580.50 per metric tonne. Indonesia, the largest producer of the item, still sells its CPO at $657.73 per metric tonne.
The Federal Government had banned the importation of the produce but ever since the prohibition, importers still bring palm oil into the country…
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News Archive from before July 2018