The 5th edition of the African Summit of Palm Oil and Rubber will be held in Ghana’s capital Accra, from 25-26 April, organisers of the event have announced.
The two-day event themed “moving forward with sustainable oil palm in Africa and improving smallholder’s productivity; continued resilience of natural rubber in the face of challenges,” seeks to accelerate the development of the continent’s palm oil and rubber industries.
This year’s summit will discuss the issue of new investments in both sectors that enjoy long-term growth prospects, with the value of the global palm oil market alone set to increase to $88 billion by 2022, whilst demand for rubber has been predicted to maintain its push by 2020.
It will also touch on the sustainability of the palm oil industry which is frequently pointed to, both in terms of forest destruction and land conflicts with local populations.
Various public and private operators, including Flour Mills of Nigeria, the Luxembourg agro-industrial group Socfin, the African Development Bank, the Anglo-Dutch firm Unilever as well as the Singaporean group Olam will take part in the event.
Africa currently accounts for less than 5 percent of global palm oil production. The continent is also the third largest consumer of the oilseeds after Asia and Europe.