How many tons of soybeans does Benin produce a year?
It is projected that annual soybean production will hit 341,000 tons by 2030 – a six-fold increase compared to 2009. Benin, which did not export soybeans when support from the IAEA and FAO started in 2009, now exports 40,000 tons at a value of US$ 19 million, annually.
Why is soybean a good investment in Benin?
Soybean production has increased from 57,000 tons to 222,000 tons from 2009 to 2021. Also, its value outgrew from US$ 6.6 million to the US $ 109 million (source: IAEA). The Government of Benin (GOB) when exports more, can decrease the nation’s deficit and buy more from the international markets.
Why is soybean oil production so low in Africa?
Lack of soil fertility was the prime reason behind low yields and insufficient income for soybean farmers in African countries like Benin. Thanks to the innovation of bio-fertilizers with isotopic techniques, which increased soybean oil production significantly with the support of the Food and Agriculture Organization of the United Nations (FAO).
What are the major dynamics of edible oil industry in Benin?
Some of the major dynamics of the edible oil industry in Benin include: The edible oil market is segmented based on type, package, distribution channel, and end-users. Its growth around all these segments helps Benin to analyze the major growth segments in the industry and provides users with valuable market insights.