Nigerian Palm Oil Producers Set to Benefit from Global Price Rally in Q3
The rally in crude palm oil prices in the third quarter of 2025 is anticipated to enhance the earnings outlook for Nigerian palm oil producers, particularly Presco PLC and Okomu Oil Palm Company. The increase in prices is attributed to tight global supply, higher export duties in Malaysia and Indonesia, and strong domestic demand.
CardinalStone analysts predict sustained high prices for Nigerian crude palm oil due to limited import inflow and steady industrial demand. Presco's strategic inventory building during peak seasons and the acquisition of Ghana Oil Palm Development Company (GOPDC) are expected to further boost its financial performance.
The company has already exceeded its 2024 net income in the first half of 2025, with CardinalStone projecting a significant rise in profit and revenue by the year-end. Despite challenges such as high debt costs, Presco is poised for a successful year driven by favorable market conditions.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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