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How much edible oil is produced in Benin?
Benin alone produced 109 thousand tonnes of vegetable oils in 2019 (Source: World Data Atlas). The African edible oil market was valued at USD 4,803.28 million in 2021. Experts expect it to reach USD 8503.00 million by 2029, registering a CAGR of 7.40% during the forecast period of 2022-29.
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.
Why is Benin a hub for mass palm oil production?
From mechanized processing techniques that allow lower cost prices to a larger production of bulk sales that attract more retailers, Benin has become a hub for mass palm oil manufacturing base. The global market for peanut oil registered a value CAGR of 3.4% from 2016 to 2020.
When did Benin start producing oil palms?
In the 1950s, Benin launched its first oil palm sector industrialization program in which the colonial government invested in large-scale, public industrial processing facilities. After independence in 1960, the national government established more facilities with greater capacity and planted around 30,000 hectares of selected oil palm seedlings.