Acazis Agro Industry plc (Flora EcoPower) is to produce peanut oil in Ethiopia. It is expected that the company will be the 
second largest producer of peanut oil following state owned Hamaressa Edible Oil Share Company.
The new mill established by Acazis near Harar will launch the first test runs over the next months and anticipates beginning larger scale operations in the third quarter of 2012 according to sources with the company.
The company had set up an oil mill to produce castor oil some years ago. The initial mill had four presses and a Hexane oil-pressing unit. Each press has the potential to produce 10,550 liters of edible oil daily.The management of Acazis now expects to focus on the production of edible peanut oil as opposed to the non edible castor oil to help meet the large local demand for the former.
Acazis is also engaged in the cultivation of castor beans and plans to sale the castor beans at the spot market of the National Commodity and Derivatives Exchange ltd, India according to the company’s website.
The Acazis oil mill was constructed at cost of almost 8 million US dollar as well as additional investment from German and Swiss investors to refurbish the oil mill. It is estimated that the company earns revenue of 5 million US dollars from the products of the oil press according to sources within the company.
Source: Capital
