Sunday, 14 October 2018

Quick Steps To Start Palm Oil Business In Nigeria


Palm oil business is a very lucrative business enterprise that doesn't really need too much effort to start off,
and if done correctly with a well planned palm oil business plan,it has the potential of bringing in a lot of profit.


This article contains brief and precise information on how to start your own small or large scale palm oil business in Nigeria. 
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Palm oil products are also in popular demand in the international market.

Palm Oil Business In Nigeria

Q1: What is palm oil?

Palm oil is an edible vegetable oil derived from the mesocarp of the fruit of the oil palms.

Q2: Why is palm oil in great demand?


Palm oil is a hot commodity because It is used worldwide and all the parts of the palm fruit are valuable.
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Also the palm oil contains a lot of rich vitamins and minerals essential for the body.

Q3: What are the products derived from the palm fruit? 

A:
  • Red palm oil
  • Groundnut palm oil
  • Palm kernel oil
  • White palm oil Etc
Palm oil is also used in Cooking,ice cream making,margarine,soaps, lubricants, lotions, Pharmaceutics,cosmetics,pet feeds Etc

Q4: How do I start palm oil business?

As a starter you can start the palm oil business by using the purchase & resale approach.

Follow the steps below:
  • Buy the palm oil when the prices are low
  • Store and sell when the prices are high
  • You will need a capital of about N100k - N5 Million depending on how you want to start off.

Q5: How do I preserve the palm oil I just purchased?

  • Buy a storage keg, preferably a 25-litre keg.
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  • Store the kegs in a cool dry place,avoid humid areas.
Q6: Where and when do I buy the palm oil?

You have to observe and work with the season,make sure you buy your palm oil at when the harvest is high and price is low between march and may. 

You can buy palm oil from local farmers in the following states:
Bayelsa state; Imo state; Rivers state; Delta state; Abia state; Edo State; Akwa Ibom; Ondo State.

It is also very important to buy Palm Oil of good quality,try to avoid adulterated palm oil products.
This would make it easier for you to sell to customers.

Q7: What is the current price of palm oil in Nigeria?

A: During palm oil peak season, you can buy a 25 liter keg of oil for about #4,000 - #5000 and store then re sale during off -peak season between July and January at about #8,000 - #10,000 per gallon.




Q8: How do I export palm oil from Nigeria?

A: CLICK HERE to learn how to export products from Nigeria.

You can export palm oil to countries where the demand is high,countries like Singapore or China Etc. 

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Q9: List the companies that buy palm oil in Nigeria?

A:
They are a lot of pharmaceutical and health companies that buy palm oil from palm oil sellers in Nigeria especially during the low peak seasons when palm oil is scarce.

Q10. How to grow a palm oil plantation in Nigeria?


A: 

If you are willing to invest in a long term business venture,then planting a palm oil plantation is a good choice.

Follow the steps below:

  • Make available a substantial amount of capital.
  • Make arrangements for fertile hectares of lands.
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  • It will take a time frame of about 2 - 3 years for you to have your first harvest.
  • Buy or rent fertile hectares of lands.
  • Hire plantation workers unless you plan to maintain the plantation by yourself.
  • Have the soil checked up by agriculture experts to be on the safe side.
  • The land has to be easily accessible and It motorable.
  • After taking care of these factors,proceed to Plant your palms seedlings.
  • The seedlings cost between #100 - #200 depending on your bargain power.
  • Target to buy at least 1000 - 1500 seedlings.
  • Ensure at least 8-9 meters spacing between the two plants. 
  • Set aside capital for future harvesting,and processing of the product.
  • Consider buying a palm fruit processing mill in other to process your product
  •  effortlessly and also you can process for others and still earn more money.
  • After processing the palm oil,store it at your storage and then sell it when the product becomes scarce.

Before venturing into this business make sure you have enough capital,because this business involves the tying down of capital for a long time.

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