palm oil The prices of locally produced palm oil and ground-nut oil have jumped less than eleven days to Christmas. A market survey conducted at markets within Owerri urban on Thursday, shows that 150cl bottle of palm oil sells for between N1, 400 and N1, 600, while ground-nut oil of the same measure, sells for nearly the same amount. A dealer at Ekeukwu Owerri Main Market, Mrs Christiana Ogbonna said that retailers now buy 25 litres container of palm oil at N25, 000 as against the N18, 000 at which price they bought about a month ago. Ogbonna, who attributed the increase in the price of the produce to the general downturn in the country’s economy, noted that palm oil was not that costly last year. “Usually palm oil is expensive from October to January yearly, because these months are the periods when palm fruits are scarce due to low harvest from palm plantations. “What is happening this year is frightening that 25 litres rubber of palm oil could go as high as N25, 000 and yet...
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