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POFON Decries Intention of Foreign Companies to Eradicate Local Investment in Palm Oil Plantations

Plantation Owners Forum of Nigeria (POFON) have decried alleged intentions of agents of the Federal Government to conspire with companies of foreign interests and origin, to wipe out local investments in palm oil plantations in Nigeria by flooding the nation’s market with cheap imported palm oil.

A recent announcement by PZ Cussons in a United Kingdom based commodities publication that it has started large scale sales of palm oil in Nigeria may be the confirmation of this allegation.

(POFON) raised alarms that companies of foreign origin led by PZ Wilmar and De United Foods Industries Limited (DUFIL) are implementing a plan to wipe out oil palm plantations in the country.

The announcement by a United Kingdom based publication ‘Agra-net.com’ on the 12th of April that PZ Cussons has began the bulk sale of palm oil in Nigeria may be the confirmation of the outcry.

The group noted that it is believed this was ploy to replace indigenous investments in plantation agriculture with huge palm oil import inventory from Malaysia and with the report of alleged sale of palm oil by PZ Cussons, analyst say POFON’s claim might possess some merit.

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