Any nation that requires development must look inwards to identify areas where it has comparative advantage over other nations and seek to develop the identified areas.
Apart from hydrocarbon, Nigeria has comparative in the Agricultural sector where a variety of products are produced due to the favorable climatic condition ,good soil condition and the fact that over 70% of the entire land mass of the country is arable.
Different oil bearing seed are produced in Nigeria to include cotton seed, groundnut seed, palm kernel seed, sesame seed, melon seed of which vegetable oil can be extracted from.
Due to the ban on the importation of vegetable oil, the nation has witnessed a deficit in supply of the product though much improvement has been recorded in the local production of the product.
This report seeks to examine the financial viability or otherwise of establishing a vegetable oil production plant in Nigeria with sesame seed as the raw material.
Sesame seeds (or sesamum or benniseed) are the seeds of the tropical annual Sesamum indicum. Based on their colour difference, sesame seed in Nigeria can be classified into two {2} types namely the white/raw and brown/mixed.
The white varieties is usually regarded as the food grade and used in the bakery industry while the brown varities are refered to as oil grade and used in the production of sesame oil. The White (Food Grade) seed is grown around the towns of Keffi, Lafia/Makurdi, Doma, and in Nassarawa, Taraba, and Benue States. It is easier to sort and the Fumani/Denin people consume sesame locally.
Sesame oil (also known as gingelly oil or til oil) is an edible vegetable oil derived from sesame seeds. Besides being used as a cooking oil, it is often used as a flavor enhancer in Chinese, Japanese, Middle Eastern, Korean, and Southeast Asian cuisine.
Sesame seed contains 45% of oil, 48% cake with 7% oil content in the cake. Sesame cake is an important component of feeds for poultry and cattle.
The market for vegetable oil and sesame cake is national. With a population of over 165 million people and an estimated national population growth rate of 5.7% per annum ,an average economic growth rate of 3.5% per annum in the past five {5} years, Nigeria has a large market for edible oil.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on sesame oil production Nigeria by clicking on the link below.
Report Title: SESAME OIL PRODUCTION IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/SSOIL/FMR/143500
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