Transport Costs and Inflation Threaten Palm Oil Price Relief

Palm oil prices in Benin City markets fell from around ₦1,500–₦1,600 to about ₦1,200–₦1,300 per litre. Consumers and traders welcome the dip but call it a fragile relief against persistent economic hardship. They credit a temporary surge in supplies from producing regions and slightly lower fuel costs for easing transport expenses. However, traders warn that any drop in supply or rise in fuel prices will quickly push prices back up. Market leaders are urging government action on rural infrastructure and stronger support for local palm production. They say broader economic reforms are essential to sustain lower prices and ease the burden on low-income households.

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