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Corn {Maize} Starch Production In Nigeria, The Feasibility Report

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Corn {Maize} Starch Production In Nigeria, The Feasibility Report

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Corn starch, cornstarch, corn flour or maize starch is the starch derived from the corn (maize) grain. The starch is obtained from the endosperm of the corn kernel. Corn starch is a popular food ingredient used in the food, textile, pharmaceuticals and paper industries.

Product Description

Nigerian agriculture is characterized by considerable regional and crop diversity. Analysis of this sector, particularly the food sub-sector, is fraught with serious data problems. However, the available statistics provide a broad overview of development in agriculture upon which we can make some broad generalizations about its role in economic development and structural change in Nigeria.

In the 1960s, the agricultural sector was the most important in terms of contributions to domestic production, employment and foreign exchange earnings.  The situation remained almost the same three decades later with the exception that it is no longer the principal foreign exchange earner, a role now being played by oil.

The sector remained stagnant during the oil boom decade of the 1970s, and this accounted largely for the declining share of its contributions.  The trend in the share of agriculture in the GDP shows a substantial variation and long-term decline from 60% in the early 1960s through 48.8% in the 1970s and 22.2% in the 1980s. Unstable and often inappropriate economic policies (of pricing, trade and exchange rate), the relative neglect of the sector and the negative impact of oil boom were also important factors responsible for the decline in its contributions.

On its diversity, Nigerian agriculture features tree and food crops, forestry, livestock and fisheries.  In 1993 at 1984 constant factor cost, crops (the major source of food) accounted for about 30% of the Gross Domestic Products (GDP), livestock about 5%, forestry and wildlife about 1.3% and fisheries accounted 1.2%.

One of the food crops grown in Nigeria is Maize. Nigeria has an annual maize production in excess of 7 million metric tons and ranges as the ten largest producers in the world and this feasibility report seeks to  examine the financial viability or otherwise of establishing corn {Maize}starch production in Nigeria using corn { maize}  as basic raw material.

Corn starch, cornstarch, corn flour or maize starch is the starch derived from the corn (maize) grain. The starch is obtained from the endosperm of the corn kernel. Corn starch is a popular food ingredient used in the food, textile, pharmaceuticals and paper industries.

There is high demand for corn {maize} starch in Nigeria. 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 corn {maize}  starch.

Industries in need of cassava starch include textile, pharmaceuticals, food and beverages, paper and packaging, manufacturing and chemicals. The national demand for corn {maize} starch in Nigeria is estimated at about 800,000 tons/ annum while the current national supply is estimated at 350,000 ton per annum.

Table of Content

Table of Content

EXECUTIVE SUMMARY

Business Overview

1.1 Description of the Business
1.2 Vision and Mission Statement
1.3 Business Objective
1.4 Value Proposition
1.5 Critical Success Factor of the Business
1.6 Current Status of Business
1.7 Description of the Business Industry
1.8 Contribution to Local and National Economy

Marketing Plan

2.1 Description of product
2.2 Product Packaging and delivery
2.3 The Opportunity
2.4 Pricing Strategy
2.5 Target Market
2.6 Distribution and Delivery Strategy
2.7 Promotional Strategy
2.8 Competition

Production Plan

3.1 Description of the Location
3.2 Raw Materials
3.3 Production Equipment
3.4 Production Process
3.5 Production Cost
3.6 Stock Control Process
3.7 Pre-Operating activities and expenses
3.7.1 Operating Activities and Expenses
3.8 Milestones

Organizational and Management Plan

4.1 Ownership of the business
4.2 Profile of the promoters
4.3 Key Management Staff
4.3.2 Management Support Units
4.4 Details of salary schedule

Financial Plan

5.1 Financial Assumption
5.2 Start up Capital Estimation
5.3 Source of Capital
5.4 Security of Loan
5.5 Loan Repayment Plan
5.6 Profit and Loss Analysis
5.7 Cashflow Analysis
5.8 Viability Analysis

Business Risk and mitigation factor

6.1 Business Risks
6.2 SWOT Analysis

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Report Details

Report Type: Feasibility Report
Language: English
Release date: October, 2013; Updated Every 3- Months
Number of pages: 32 pages
Format of Delivery: MS WORD
Product Code: FORA/CONSTARCH/FMR/165390
Delivery time: Within 24– 48 hours of payment confirmation