Palm oil is one of the most widely consumed food commodities in Nigeria. Before we look at the current market prices of palm oil in Nigeria today, we’ll discuss some basic facts about this popular commodity.
Although it has many other uses, palm oil is majorly used for cooking and frying foods. The oil is extracted from the pulp of the oil palm fruit and is an excellent source of both saturated and unsaturated fatty acids, which provide the body with many benefits.
In addition to its use in the kitchen, palm oil is also used in soap manufacturing as a lubricant as well as in the manufacture of candles, water treatment products, drugs, printing ink, and many other products.
Palm Oil Prices in Nigeria Today
Here’s a detailed breakdown of current palm oil prices in different parts of Nigeria.
- Palm Oil (25L) in Mushin Market, Lagos== N17,000 – N19,500
- Palm Oil (25L) in Daleko Market, Lagos== N17,500 – N19,900
- Palm Oil (25L) in Aguda Market, Lagos == N18,000 – N20,500
- Palm Oil (25L) in Mile 2 Market, Lagos== N18,000 – N20,300
- Palm Oil (25L) in Abuja Market == N22,000 – N25,000
- Palm Oil (25L) in Port Harcourt Market == N25,000 – N28,000
- Palm Oil (25L) in Enugu Market == N20,000 – N26,000
- Palm Oil (25L) in Oyo Market == N20,000 – N23,000
PRICES LAST UPDATED: OCTOBER 13, 2022.
Cost of Palm Oil in Nigeria: Factors Affecting It
As with any other widely consumed commodity in the country, the prices of palm fluctuate due to a number of factors. Some of these factors are discussed below:
Season: The most important factor that determines the cost of palm oil in Nigeria is the time of the year. Usually, palm oil is harvested between March and May every year, and during this period the supply if the commodity exceeds demand. This drives the prices to the lowest levels possible. But between September and December, the prices shoot up because the commodity becomes very scarce.
Location: The part of the country where palm oil is purchased at also determines the price. Typically, prices are lowest in the South Eastern and Niger Delta regions of the country and highest in the middle belt regions. Intermediate figures are obtainable in the South Western parts of Nigeria.
Health benefits of palm oil
Beyond the fact that it gives food a nice red colour, palm oil provides a number of health benefits to the body, which include slowing down ageing, supporting pregnancy, and making the bones and joints stronger. This explains why you should incorporate palm oil into your diet as much as possible. Now, let’s look at some of the multiple health benefits of palm oil.
Helps to prevent cancer
The risk of having cancer is highly increased by the activities of free radical molecules — residues generated following various bodily processes that cause damage to body cells if not mopped out of the body. Palm oil is rich in antioxidants, which help to eliminate these free radical molecules from the body, thereby reducing the risk of cancer.
Rich in Vitamin K
Palm oil is a rich dietary source of Vitamin K, which helps to facilitate effective blood clotting mechanisms. This way, it helps to prevent excessive blood loss following bleeding. This vitamin also helps the body to better handle certain drugs, such as antibiotics, as people with vitamin K deficiency tend to be resistant to the effects of antibiotics and other beneficial drugs.
Rich in omega-3 fatty acids
Palm oil is also very rich in omega-3 fatty acids, which play several important roles in the body. Aside from helping to maintain a healthy muscular structure, omega-3 fatty acids also help to slow down the effects of ageing on the brain. They also help to reduce the rate of loss of cognitive abilities in people with Alzheimer’s dementia. In addition, these fatty acids help to protect the body from inflammatory processes such as arthritis.
If you’re looking for a dietary source of long-lasting energy — not just a short burst of it — then you won’t go wrong with palm oil. It’s an excellent source of energy that helps to provide strength and nourishment to the body cells. It also contains beta-carotene, which plays a role in the balancing of body hormone levels.
Rich in Vitamin E
Palm oil is a rich dietary source of Vitamin E, which is a blessing for elderly people because it contains 8 different antioxidants that help to protect the skin and body organs from damage by free radicals, thereby slowing down the ageing process. In addition, Vitamin E helps to keep the heart healthy and working optimally. And it protects the blood vessels against atherosclerosis and related problems.
Acts as an anti-thrombotic
Sometimes, blood clots do form within the blood vessels. This process, known as thrombosis, can be very dangerous as it can obstruct the flow of blood to vital body organs such as the brain, heart and kidneys. Some studies have proven that palm oil plays a role in the prevention of thrombosis, especially in people who are overweight or those who live a sedentary lifestyle.
When taken regularly as part of meals during pregnancy, palm oil helps to ensure effective baby growth and development. It also helps to reduce the effects of pregnancy on the mother’s body. Palm oil is a rich source of oil-soluble vitamins (vitamins A, D, E and K), the deficiency of which can cause serious problems for the mother and baby during pregnancy.
Rich in Vitamin A
Vitamin A is essential for good vision as well as the optimal functioning of body cells. Since palm oil is a rich dietary source of vitamin A, adding it to your diet helps to enhance your vision and keep your body organs healthy. And it facilitates the production of enzymes and hormones that regulate various processes in the body.
Rich in Vitamin D
One of the most important sources of Vitamin D is the early morning sunlight. But due to the indoor nature of most people’s jobs, they miss out on this daily opportunity to replenish their body’s supply of this vitamin. Thankfully, however, the vitamin can also be obtained from certain dietary sources, one of which is palm oil. Vitamin D helps to build strong and healthy bones and teeth, and it helps to prevent bone and joint diseases such as arthritis.
How to preserve palm oil
If you’re planning to become a palm oil trader who specializes in buying when the commodity is cheap and selling when the prices shoot up, this information would be of help to you.
Palm oil doesn’t go rancid quickly. In fact, it can be stored for as long as one year without losing any value — provided it is stored in the right storage conditions. Note, however, that it is not recommended to store palm oil for longer than 6 months.
The right temperature for storing palm oil is room temperature (30 degrees Celsius). Always store in glass bottles or stainless steel containers. You can also use plastic containers such as jerry cans. But you must avoid copper containers.
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Thank you so much for this article.. but I’d like to know the price of palm oil in Abuja and if you have any means of transporting these oil from the south,Akwa Ibom precisely or an interested buyer in the north…please contact me via email,i’m very much ready for this business
I wish I had this information 5 months ago. However, I will still need it to make a better plan next year, God willing.
Thank you so much.
I sell palm oil at affordable price I reside in Ogun state. You can call be to discuss more 08027670380.
Thanks a lot for the information provided. It is of great help to me.
well oriented and enlightened
can you link me up with plateau buyers.
thank you, sir
Can u connect me with someone who is selling palm oil in abia state.
How do u want it
I am a dealer from Imo State.
Please can someone connect me with a dealer in Umuahia Main Market, Abia State
Hello, How do i meet buyers in Plateau?
Am Living in sudan I want to connect with someone who can supply me red palm oil from Nigeria
I need international business Patner on exportations of red oil to sudan
Please connect me with good businessman
Can u connect me with someone who sell in lagos wholesale prices
Yes I do..
Yes you can reach Dizzle oil via 2347054343304.
I trade @mile 12 market, lagos
I just want to start my own oil palm tree plantation as a farmer and I need an expert to tell me how to start.
i can be of help in the establishment of an oil palm plantation,
Yes I have some one, very reliable
Am inspired by your educative write-up. Kindly link me with a genuine wholesaler of Grade 1 (unadulterated) Red Palm oil in Igbudu Market in Warri. Pls am not interested in Scammers because they will waste my precious time. Thank you.
Please how do i get buyer in Abuja and Jos.
how how much do u sell 25liter at wholesale price
How can I get buyer in plateau state please
I supply palm oil nationwide delivery location owerri
What site can I get latest info about palm oil and vegetable oil in ifo, ogunstate
Pls connect me with a buy from plateau state
Thanks very much for the enlightenments. Get your quality and health assured palm oil from us. We supply nationwide.
Pls i also need to be link up wit grade 1 undiluted palm oil wholesaler too from ugbudu market in warri and Abia state. Not scammers Pls.
Yes inbox me,
How can I get buyer in Potiskum, Yobe state
How can you connect me with wholeseller of undiluted grade 1 oil in Warri or portharcourt