Get ready for the booming of palm oil in this quarter

Looking forward, we estimate it to trade at 5364.59 in 12 months time. The 4463 MRY here is the Malaysian currency. If converted to naira it is 415,059.

The other figure is 5364 MYR. If converted to naira it is 498,852. So this market is being speculated to rise from 415,059 Naira to 498,852 between now and December. This is a whooping 84,000 Naira in increase of market.

This is caused by the higher global demand for palm oil and it is also good news for all palm oil merchants.

It was reported that, Palm oil will trade higher this year, by this time Malaysian palm oil should be very cheap to purchase but it's still on the high side from the information we got over there, right now in Nigeria 25 liters is still selling for as high as 18K, 16k in some region which on a normal ground shouldn't be so.

If you are waiting for palm oil to drop to 8K or 10K this year, trust me when I say I don't see it happening, I remember we bought 10k, 11k last year, if you'll get it cheaper this year hold on to 13k my people.

I'm giving this info out to those who would love to buy and store palm oil, you need to know that the cost of purchasing an empty gallon for storage is different from the actual price of the palm oil and it keeps increasing daily because of the demand.

Therefore, It would be advisable to store palm oil now. Get more jarricans and start filling.