You can make over 1 million naira this season buying, storing, and reselling red palm oil and I am going to show you exactly how to do it. It’s not difficult at all. As a matter of fact, palm oil business is one of the easiest business you can do in Nigeria and make quick money within months. I happen to know places in Nigeria where you can get this product at cheap prices and place where you can sell it at good price, I am going to make everything clear to you on this post.
What is Red Palm Oil?
Red palm oil is natural oil extract from palm three fruit. You and I knows the importance of red palm oil in Nigeria. No home that doesn’t cook with it and no tribe or religion that forbids it. It is generally accepted and widely used, not only in Nigeria but around the world.
Using palm oil for cooking has greater health benefits over the vegetable oil as it is said to have high concentration of vitamin E in the finest proportion. Your body tends to get better health benefits as a result of the vitamin E present in the red palm oil rather than taking a commercial vitamin E capsule. It is also rich in carotene and possess strong healing power. These are some of the reasons palm oil business is considered very lucrative.
Why Start Palm Oil Business
Palm oil is one of the commodity constantly in high demand across the world. There is never a time it wouldn’t be a hot cake in the market and it is consumed at the same rate as rice and garri. Palm oil is currently sold in Lagos and other major cities across the country at N6,000 for 25liters but if you go to the farm areas where it is produced in quantity, you can get the same 25liters at N4,000.
There are even a time of the year you may get this product for N2,500 – N3,000 per 25litres. If you can get it in quantity during the time of surplus and store it for some months, you will sell at 100% profit. It is usually surplus around December to April and sells at the highest around July to September.
If you invest N500,000 and wait for 4 months, you will be making profit of another N500,000 without any substantial effort. That is a good deal by all standard and the more money you invest, the more profit you make.
If you decides to trade all season, that will even be better. All you need to do is to find out where it’s being processed in much quantity and buy at cheap price from there, transport it to the city and sell at good price, repeat your journey as often as you can and make money all year round.
How To Make Money From Palm Oil Business
1. Secure a Shop – You will need a shop or any safe place for storage. If you have your own house, that will be nice, just dedicate one room for the storage. However, it will be better if you can rent a shop specifically for it preferably near the market.
2. Look for Places to Buy – There are many places you can get palm oil very cheap and in great quantity in Nigeria. It is available in bulk in various parts of Ondo State.It is also available in Edo State but the king of original, high quality palm oil is Ebonyi State.Travel round the states and source from the various local markets and local palm oil processors.
Transport Your Goods – If you have your own truck or van, that will be fantastic but if not, you’d have to make do with hiring. Buy everything you want to buy, get a truck to transport it to your base and store it in your shop.
Sell Your Goods – Wait until the price goes up then you open your shop and sell at a very good price. It is a perfect way to invest money instead of keeping it to the bank with peanut paid as interest on fix deposit. It is like buying property and reselling at higher prices later.
If you need additional information on this, drop me a comment below and I will attend to it promptly.
If you know any other places where this item could be gotten cheap and in great quantity, tell us using the comment box below.