This is the Secret Of Making Millions of Naira and Dollar From Palm Oil Storage Business… With Over
400% Returns On Your Investment In February To May To December Season
The main aim of this article is to teach you how to store palm oil and make huge profit from it when it is out of stock or scarce. It shows you the secret of making money from palm oil storage. Do you know that the 'common’ palm oil you and I have in our kitchen has the potential to make us huge money? A lot of people prefer to buy palm oil in kegs and store in their house rather than buying in bottles. Unknown to them, that's a huge business opportunity. Palm oil is an essential commodity found in every home, restaurant, hotel, eateries etc. and even in some manufacturing companies. Just as food is important to every human being, so is palm oil one of the essential nutrients needed in making food edible for consumption.
According to Chris Chima, CEO, Chris Farm Nigeria and an expert with experience in palm oil business, this business is a silent millionaire maker, as many of those involved in it have built houses from it while others have trained their children in schools and are driving cars. Since it is a seasonal business, you can do it part time, full time or you can just allow your money to work for you as you supervise the storage. It can be a white collar business or a dirty business, depending on how you want it.
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| PALM OIL STORED IN GALLONS |
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Processing of Palm OilModern processing of oil palm fruit into edible oil is practiced using various methods which may be grouped into four categories:
Traditional Method: This is a method by which palm is processed in a local way. It is done without the use of machines.
Small Scale Mechanical Unit: Processing units handling up to two tonnes of fresh fruit bunches (FFB) per hour are considered to be small scale.
Medium Scale Mills: Processing of 3-8 tonnes of FFB per hour is considered as medium scale.
Large Industrial Mills: This is a method whereby processing of the palm oil is done in big factories. Large scale refers to mills that process more than 10 tonnes of FFB per hour. Large-scale plants features all stages required to produce palm oil to international standards.
How To Determine The Quality Of Palm OilIt is very important that you get the right quality as palm oil can be differentiated by the levels of its processing.
Type A: SPO
Type B: TPO
Type C: SLUDGE
Type D: ROUGH
Type A: SPO· Low Water Content
Best quality. Used for consumption, food industries, etc. Can also be used for soap making. Any use.
Type B: TPO - lt has High Water Content
It is being used for soap making, especially Black Soap.
Type B, Type C and Type D cannot be stored for the purpose of reselling. They are used by companies in the production of Black Soap etc. These types are not supposed to be stored. If you store for 3-5 days, it begins to smell. So when buying, you have to be careful so that the suppliers don't give you type B for type A.
Type B: TPO - lt has High Water Content
It is being used for soap making, especially Black Soap.
Type B, Type C and Type D cannot be stored for the purpose of reselling. They are used by companies in the production of Black Soap etc. These types are not supposed to be stored. If you store for 3-5 days, it begins to smell. So when buying, you have to be careful so that the suppliers don't give you type B for type A.
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| EDIBLE COOKING PALM OIL |
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Non Edible Uses Of Palm OilPalm oil has non edible uses which are of great economic value and are a good money making opportunity for those involved in it.
• Soap/detergent
• Candle
• Cosmetics/Cream
• Glue
• It is used in lubricating machines
• It is used in the bakery to grease bread making equipment
• Used in drilling mud in the petroleum industry
• Used in the plastic industry
• Used in the production of bio-diesel
Who Should Be Involved?This business is not only meant for local people or people with huge capital. You can start with whatever you have in your hands and before you know it, your investment will have maximized.
Seasons Of Palm Oil.Palm oil is a seasonal product and it has two seasons: First Season is between February to May. This period is known as the highest period. Palm oil is in excess, so it’s very cheap when buying from the local people and palm oil processing companies. You can buy in bulk and store. Second season is between September and December. And this is a very good time to sell.
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How To Get Your 400% Returns On Your InvestmentA lot of market women are involved in just the buying and selling of palm oil; they are not involved in the storage of the product. During peak periods, palm oil is sold at the rate of N2,500 to N2,800 for a 251itre keg. If you buy in large quantities and stock; during the lean periods, you bring out your palm oil and start selling.
That same kg of palm oil you bought at the rate of N2,500 per keg can be sold at N8000 or N 10,000.
The best quality Type A (SPO), with high demand and one you can sell easily, goes for:
30 Liters: Contains 32 Bottles - Presently sells for N3,500.
25 Liters: Contains 27 Bottles - Presently sells forN2,800
20 Liters: Contains 22 Bottles - Presently sells for N2,500
Starting This Business With N10,000
The best quality Type A (SPO), with high demand and one you can sell easily, goes for:
30 Liters: Contains 32 Bottles - Presently sells for N3,500.
25 Liters: Contains 27 Bottles - Presently sells forN2,800
20 Liters: Contains 22 Bottles - Presently sells for N2,500
Starting This Business With N10,000
The higher your investment, the higher your profit but you can start with N10,000. From the analysis above, you can decide to start by buying to resell the 20 liters keg. With N10,000, you can buy 4 kegs of 20 liters of palm oil and resell at off peak periods.
You can also start by buying in kegs and reselling in bottles. Suppose you buy 1 keg of 20 litters which contains 22 bottles. Presently, we are at the peak period, so a bottle of palm oil is about N170. If we multiply N170 by 22 bottles, we have N3,740. Now, if you are to sell at off peak periods, a bottle of palm oil is as high as N250 per bottle and that would give us N5,500. That is more than a 100% on your investment. Imagine if you invest like a N50,000. With this business, your investment is guaranteed and your profit is certain - only if you master the seasons to sell.
Studying The MarketHave it in mind that prices fluctuate. The best time to buy is February - March. Prices fall during this period. For example, 25 Liters Keg, between February & March, can be bought between N2,700 – N2,900. If you decide to sell it within two months, i.e. May, the selling price will be between N3,000 – N3,500. This is because the product is still in abundance.
But, if you wait till September-October, when the production is very low and we are moving close to the lean season, the price goes up. This follows the normal economics rule: increase in price when there is scarcity. You resell it between N4,500 -N5,000. If you then wait further till November- December, then you make more money. But you have to make sure you sell it before prices come down. At such periods, palm oil sells for around N6,000 - N7,000, sometimes higher. There was a year palm oil was purchased for just N1 ,900 and it was sold for N10,000 that same year. It was due to a huge scarcity of Palm Oil. Your profit depends on how long you can wait.
Whom To Sell ToWe have retailers who always buy in bulk. The retailers don’t stock oil. They just buy and resell immediately for their daily and weekly needs. So, once you are able to locate one, you will have a higher demand than your supply. Retailers are always in abundance during the scarcity periods (when production is low.) When you have good oil, you will always have customers.
Where To Purchase Your Palm OilPalm oil can be purchased in different parts of Nigeria: e.g. Enugu, Ebonyi, Imo, Anambra, Oyo, Edo, Ondo State.
Good Storage System- Plastic kegs and drums must be clean and dried properly.
- Store on pallet or wooden platform.
- Kegs should not be put on the ground directly.
- Store on pallet or wooden platform.
- Kegs should not be put on the ground directly.
Management Of Palm Oil StorageThe major threat to Palm Oil storage is the soldier ant (ljalo). They are ants that move in thousands. In order to avoid these ants from entering your oil, you must:
1. Make sure you clear the bushes around your environment
2. Fumigate if necessary
3. When you store in kegs, it is better you put the keg in a bowl and fill the bowl with used engine oil.
4. If you store in a drum, put the drum on a tyre.
5. Ensure you seal your drum properly and your keg is well tightened.
1. Make sure you clear the bushes around your environment
2. Fumigate if necessary
3. When you store in kegs, it is better you put the keg in a bowl and fill the bowl with used engine oil.
4. If you store in a drum, put the drum on a tyre.
5. Ensure you seal your drum properly and your keg is well tightened.
Implication of Putting Palm Oil On The FloorIf you put it on the floor, it would reduce the quality and quantity as well. It will solidify. This would affect the price when you want to resell it, because the solidity will reduce the quantity of the palm oil. But when placed on a pallet or wood or used tyres, it helps it retain its quality and quantity.
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