Through Premium Edible Oil Products Limited (PEOPL), the group operates one of the largest new generation edible oil complexes in Africa as its downstream business in the oils and fats value chain producing bottled vegetable oils, margarines and spreads.
Presently, PEOPL extracts premium soya oil from soybeans supplied from our Kaboji Farm and from aggregated supplies from up to 100,000 third party farmers in North-Central and North-West Nigeria. After oil extraction, the remaining soybean meal is used by our Premier Feed Mill operations in Ibadan and Calabar where it is converted to poultry and aqua feed. We have also successfully exported over 60,000mt of soybean meal produced from locally sourced bean.
The Group's upstream business in oils and fats value chain provides the needed crude palm oil for Premium Edible Oils Mills Limited from its Ugbogui and Iguiye Palm Plantations near Benin City in Edo State.
The plantations had expanded to about 4,500 hectares of established palm in the first phase of local palm oil production fulfilling some of the upstream needs of our oil refining operations in Ibadan. With the acquisition of additional 20,000 hectares of arable land we have set Agri Palm on the path of being one of the largest oil palm plantations in Nigeria.
To further improve the fortunes of the plantation, the company had entered into a Management Agreement with Okomu Oil Palm Company PLC, a well-established company in palm plantation management and milling for the management of the group’s plantation and processing of the company's Fresh Fruits Bunches. This partnership is expected to further improve the company's output and yield.