The soybean (Glycine max (L.) Merrill) is a specie of legume native to Eastern Asia and introduced into Nigeria in 1908. With improvement in breeding and processing research, soybean cultivation, domestic market, processing and utilization have grown considerably in Nigeria.
Soybean has been recognized in the country as an important food crop that contains about 40 percent high quality protein and about 20per cent oil. Industrial and domestic processing of soybean has given rise to numerous products utilized for both human and animal consumption.
The importance of soybean in food security especially for the poor in Nigeria cannot be overemphasized. It is the best source of plant protein, substituting the animal-protein sources, which are usually inadequate in supply for poor households.
Soybean is generally considered as a highly versatile grain which has about 365 applications in the formulation of both human and other industrial uses. Thus, the demand for soy-based products is expected to be high in Nigeria especially among commercial consumers in confectioneries industries.
These industries utilize soybean in various forms such as bean, meal, cake and oil.
However cake and oil forms are the most significant economically in the country.
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Nearly 95 million hectares of soybeans were harvested worldwide in 2007, with 19 million in Asia, 3.5 million in the USA, and 1.2 million in Africa.
Depending on the variety, soybeans can be harvested between 100 and 150 days after planting. Labor requirements in Africa are high since most cultivation and harvesting are done manually.
Worldwide consumption of soybean is nearly 11 million tons. Africa consumes about 618,000 tons annually. Nigeria is the largest consumer of soybeans in SSA followed by Uganda. (source IITA)
The Industrial Demand for Soybean Seed is around a total of 2,270,700 tonnes. According to a research carried out. That’s for Processors alone. (According to CBN Report on Grains Demand and Commodity Prices)
Pricing of soy beans and other Soya based forms is usually dictated by market forces of demand and supply which in turn is a function of time, level of production, distance from the point of delivery, quality and the quantity demanded.
Prices of Soybeans varies from N55, 000 - N 120, 000 per tonne, depending on the type of the soy material required, location of supplies and the season of the year.
One Processing Company in Nigeria has its annual demand for Soybeans at 25,000 tonnes. There are many companies all around the country who needs Soybeans seed.
There is a lot to be made from Soyabeans.
Return in Investment
The ROI is about 12% to 25%. And could be more (up to 60%) if you are SMART in Selling.
A Typical Transaction cycle takes 5-7 days and Payment Collection is always within 24hrs to 5 working days.
Contained in the detailed report
- Procurement - Where to Buy Soybeans (High quality Soybeans. There are places where you can get the best. That’s being smart!
- Logistics: How To Supply at the Right Price, Place and Time.
- Selling: Nothing happens until there’s a sale.
The Demand for Soyabeans is: All Year Round
For a Comprehensive Market Report on Soyabeans Supply to Local Companies, contact The Super Smart Farmer.
The Full Market Report contains the Addresses of these Buyers within Nigeria.
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Order for the Marketing Report: N20,000 Only
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