The major source of oil in Nicaragua is African Palm. Palm plantations have more than doubled since 2011. There are now more than 29,000 hectares of planted areas in the Atlantic Coast of Nicaragua with a total annual production of 60,000 MT. The goal of the palm oil industry for the mid-term is to reach self-sufficiency and increase palm oil exports to the region. A second source of oil comes from peanuts but it is destined for the export market since it is considered premium oil. About 18,000 MT of oil are produced every year out of 53,000 MT of peanuts.