Releaf - Read as relief (the removal of stress or discomfort)Hello Venturer,Are you aware that Nigeria used to be the world's largest palm oil producer in the early 1960s, and contributed a 43 percent share to the global market? Well, now you know. However, Nigeria is now a net importer of this product, and about $500 million is spent annually on oil palm importation.80 percent of palm oil product is derived from smallholder farmers which largely constitutes the sector. These farmers often use the traditional rock-to-nuts method of processing oil palm which in turn hampers their productivity.This week, we take a look at how Releaf, a Nigerian agri-tech startup is providing relief to oil palm production with its Kraken innovation, and also boosting farmers' finances by linking them up with processing factories.Adekunle AgbetiloyeStaff Writer, Ventures Africa.
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Oil palm? Phew! What a Releaf.🌱
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Releaf - Read as relief (the removal of stress or discomfort)Hello Venturer,Are you aware that Nigeria used to be the world's largest palm oil producer in the early 1960s, and contributed a 43 percent share to the global market? Well, now you know. However, Nigeria is now a net importer of this product, and about $500 million is spent annually on oil palm importation.80 percent of palm oil product is derived from smallholder farmers which largely constitutes the sector. These farmers often use the traditional rock-to-nuts method of processing oil palm which in turn hampers their productivity.This week, we take a look at how Releaf, a Nigerian agri-tech startup is providing relief to oil palm production with its Kraken innovation, and also boosting farmers' finances by linking them up with processing factories.Adekunle AgbetiloyeStaff Writer, Ventures Africa.