• okeore@adenriverestates.com
  • +234 8180702269
News Photo

POFON Unveils Plan to Stabilize Palm Oil Prices Year Round

The Plantation Owners’ Forum of Nigeria (POFON) has announced a new initiative aimed at stabilizing crude palm oil prices across Nigeria, regardless of seasonal supply swings.

Speaking at a press briefing following a stakeholder meeting in Benin City, POFON Chairman and CEO of Aden River Estates Limited, Mr. Emmanuel Ibru, outlined the group’s commitment to keeping palm oil prices consistent and affordable year-round.

“We are taking concrete steps to minimize the gap between peak and lean season prices,” Ibru said. “Consumers should not have to bear the brunt of seasonal volatility.”

Key Elements of the Strategy:

  • Price Stability Across Seasons
    The forum aims to reduce dramatic price differences between the harvest and off-season, ensuring palm oil remains accessible to Nigerian households even during production slowdowns.

  • Proactive Inflation Response
    Despite growing input costs and broader inflation, POFON is prioritizing a pricing structure that supports both producers and consumers.

  • Production Growth & Industry Expansion
    Nigeria’s palm oil output has increased by over 50% in the past eight years—from 900,000–1,000,000 tonnes annually to around 1.4–1.5 million tonnes today. Major investment, especially in Edo State, continues to drive this upward trend.

  • Government Collaboration
    POFON is working with federal and state agencies to draft a comprehensive, long-term roadmap for sustainable industry growth. The initiative spans large-scale estates as well as small and medium-sized producers.

  • Nigeria’s Global Role and Growth Targets
    Already Africa’s top palm oil producer and the fifth largest globally, Nigeria is poised to close existing supply gaps. Expanding oil palm cultivation to 500,000 hectares is a key part of that strategy.

for further reading:  POFON to stabilise palm oil prices in 2025Group Targets Palm Oil Price Stability Through Plantation Expansion - Voice of Nigeria Broadcasting Service , Punch - POFON pledges to stabilise palm oil priceThe Guardian - POFON to stabilise palm oil prices year-round

Share This News

Want to know better about palm oil plantation