In an effort to put an end to the illicit activities of importers of crude palm Oil (CPO) into the country, the Federal Government has thrown its weight behind the Plantation Owners Forum of Nigeria (POFON).
The resolve of the Minister of Agriculture, Dr. Akinwumi Adesina, to reduce or possibly end the waste of Nigeria’s foreign exchange on importation of agricultural commodities for which the nation has comparative advantage, through the Agriculture Transformation Agenda, is well reported.
It was gathered that POFON had earlier sent a letter to the Minister to sound the alarm of an imminent threat to the nation’s oil palm plantation industry, posed by the massive importation of Crude Palm Oil (CPO) into Nigeria by some companies, which they said had crippled the local market of the commodity.
With a 35 per cent import duty imposed on the importation of CPO to protect the local oil palm plantations, which produce the commodity locally, POFON has argued that the lull in the CPO market, which has been on in the last few months, is an indication that the commodity was being dumped in the country.
POFON had since identified companies like De United Foods, makers of Indomie Noodles; BUA Group and a few others as culprits in the current onslaught against oil palm plantations that is bringing the hitherto vibrant sector to its knees, calling on government to intervene and end whatever malpractice they may be practicing that is making it impossible for local players to sell their palm oil.