Despite the high exchange rate and its price, Nigeria has imported 450,000 tons of crude palm oil valued at N116.3billion ($323.1 million) since the beginning of the year. The shipment was increased by 12 per cent as global price hit $718 per metric ton. The price of the commodity, which was $663 per metric ton in July, was increased to $718 per ton this month (November) based on high demand by indigenous manufacturers. The country domestic production currently stands at 970,000 metric tons, while demand is 2.7million tons, leaving a deficit of 1.73million.