Until the late 1970’s when hydrocarbon was discovered in commercial quantity in Oloibiri, present day Bayelsa state, Agriculture remained the mainstay of the economy contributing over 90% of the Gross Domestic Product (GDP) of the country as against the less than 40% it now contributes with crop production accounting for an estimated 85%, livestock 10% and the balance made up by fisheries and forestry.
Oil palm in Nigeria grows in the coastal belt which varies in depth from 100 to 150 miles and a riverine belt which follows the valleys of the Niger and Benue for a distance of about 450 miles from the sea. The main palm oil producing states includes Ogun, Ondo, Oyo, Edo, Cross River, Anambra, Enugu, Imo, Abia, Ekiti, Akwa-Ibom, Delta and Rivers.
Extensive market research has revealed that palm kernel nut is an everyday goods used by Industries. They are used in the production of palm kernel oil and cake. Palm kernel oil is used in the production of soaps and other food products while the cake is used in the production of animal feeds.
Thus, the market is ongoing and is not dependent on economic cycles.
This report seeks to examine the financial viability or otherwise of setting up a palm kernel nut and shell trading business in Nigeria.
The required startup capital estimate for palm kernel nut trading is N 1,639,000 while about N 289,000 is required for palm kernel shell trading. The business is expected to generate a net profit per transaction cycle of N 311,000 for palm kernel nut and N 71,000 for palm kernel shell.
The manpower required to run the business is between 1-2 with one purchasing the product and the other selling to the buyers but the same person can perform the two functions.
The return on investment on the trading of palm kernel nuts and shell ranges from 10% to 15%.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for beginners and on-going businesses in different sectors of the Nigerian economy.
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 palm kernel nuts and shell in Nigeria by clicking on the link below.
Report Title: PALM KERNEL NUTS AND SHELL TRADING IN NIGERIA
Report Code: FORA/08/2011/11
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