1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Nicaragua’s oil industry surges

Nicaragua’s oil industry is more than qualified to compete internationally, according to Rodrigo Caldera, President of the Nicaraguan Chamber of Industry (CADIN, for its acronym in Spanish).

 
PRLog - May 7, 2014 - MANAGUA, Nicaragua -- Nicaragua’s oil industry is more than qualified to compete internationally, according to Rodrigo Caldera, President of the Nicaraguan Chamber of Industry (CADIN, for its acronym in Spanish). With more than 14,000 hectares in production, this industry has the ideal agro-ecological conditions and necessary industrial facilities for the production and processing of oil.

The country’s production of natural oils and fats derives mainly from five different crops: palm, soy, sesame, peanut and cotton. Palm oil, concentrated in the South Atlantic Autonomous Region of Nicaragua (RAAS, for its acronym in Spanish), has been developed the most in the country by industries that work with small producers.

Palm oil is mainly exported to Mexico, stated Pedro Lacayo, General Manager of Agrosa—an oil distribution company. “One part stays in Nicaragua and the rest is exported. And now, since last year, it started to open to Venezuela, which has helped to increase export value”, remarked Lacayo.

The palm oil industry directly employs around 2,000 people and 10,000 indirectly. Additionally, the production of other oils in the northwest region of Nicaragua employs nearly 4,000 people.

According to the Center of Exports Procedures (CETREX, for its acronym in Spanish), oils and fats sales abroad generated US$78.1 million in 2013. In terms of volume, CETREX reported exports reaching the quantity of 49.1 million kg. From January to February 2014, Nicaragua has exported 6.3 million kg. of oil for the amount of US$9.5 million.

--- End ---

Click to Share

Contact Email:
***@pronicaragua.org.ni
Source:PRONicaragua
City/Town:Managua - Managua - Nicaragua
Industry:Business, Industrial
Tags:oil industry, nicaragua, exports, palm oil, production
Shortcut:prlog.org/12320501
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share