Palm Oil Traders, Consumers Worry Over Price Increase

Palm oil traders and consumers in Abakaliki have expressed concern over persistent inflationary pressures threatening yet another price surge.
The News Agency of Nigeria (NAN) survey at the International Market and other trading outlets in Abakaliki showed that the price of a litre of oil increased to between N1,800 and N2,000, as against N1,200 and N1,500 sold in April and May.
Also, a 10-litre gallon of palm oil is sold between N28,000 and N30,000, while a 25-litre gallon is sold between N58,000 and N60,000, compared with N50,000 and N55,000 in May.
A trader, Greg Okpaga, described the price increase as an unstable season for palm fruits due to high demand.
“The price rise will ...