05-06 Sep, 2012 - Accra, GHANA
La Palm Royal Beach Hotel, Accra
La Palm Royal Beach Hotel, Accra
In response to the increasing global demand for palm oil, the West African country, Cameroon is inviting foreign companies to expand industrial palm plantations. According to the government, the companies seeking acquisition of land for palm oil plantations in the South and South-West region are Sithe Global Sustainable Oils Cameroon (SGSCO) owned by US-based Herakles Farm (180,000 acres), Malaysian-based multinational and world’s biggest listed palm oil producer Sime Darby (1.5 million acres) and Indian- owned Siva Group/Biopalm Energy(500,000 acres), as well as 3 more companies.
Government statistics show that Cameroon is the 13th largest producer of palm oil globally. 230,000 tonnes is produced annually by a mix of small holders and agro-industrial plantations, and around 470,000 acres is under cultivation. About half the total production is exported to Nigeria, France and other countries. To make up for the 150,000-tonne deficit for domestic consumption, the government’s Rural Sector Development Plan aims to triple the palm oil production to about 450,000 tons annually by 2020.
Despite opposition from environmentalists on climate threats and loss of some fauna and biodiversity, local communities in the project areas have embraced the projects. Officials say that the projects will prove economically beneficial as it is going to provide direct and indirect employment and bring more revenue to the state.
Given the rapidly growing global palm oil demand, at the Palm Oil Africa conference on 05-06 September in Accra, industry experts will examine the various aspects of palm oil plantations in countries such as Ghana, Nigeria, Liberia, Sierra Leone, Gabon, Cameroon and Cote d’ Ivoire, including investment prospects, yield management, disease control, environmental impact & biodiversity conservation, and many more. Register here and reserve places to attend the conference. For enquiries, contact Ms. Hafizah at hafizah@cmtsp.com.sg
Read complete article here.
Click here to view the Reuters listing of the major and emerging palm oil players in Africa.
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