CFA 15b to modernize vegetable oil plants

Cameroon’s cotton development corporation (SODECOTON) has revealed plans to invest CFA 15 billion for the modernization of vegetable oil plants with the aim of increasing by 50 percent their drilling and refining capacities.

In the medium term, SODECOTON vegetable oils production which is currently at about 17,000 tonnes per year, could increase initially to 27,000 tonnes of Diamora oil, the brand that market this agro-industrial unit, then 34,000 tonnes, some years later.

The project to increase vegetable oils production was approved by the company's management structures and will cost about CFA 15 billion CFA francs.

It is expected to have an implementation phase which begins as early as the next financial year.

According to sources, the increase in vegetable oil production may also affect oil prices which may fall from CFA 1,500 CFA per liter to CFA 1,300 CFA, not far from the general market value which is CFA 1200 CFA per liter of the refined product.