What's Your Thoughts On Palm Oil Business?

[Rachael]

One of the most profitable line of business is the palm oil business and this line of business has existed for a long time now. In my country, agricultural activities is not taken on levity despite the fact that we still buy food items at high costs as though we do not have farmers. Even on our coat of arms, we have the identity of a green land for agricultural activities. A one-time President in my country was a farmer and during that time, it motivated a lot of people to go into farming. Currently, the high rate of insurgency and attack on farmers has made the decline of these activities and it brings about high cost in the prices of food. The palm oil business is one business that has stood the test of time and in my town, farmers have acres of land for planting and processing of palm fruits.

Just like every other farm produce, the palm oil business have its season of plenty and also when there is hike in prices. During the season of plenty harvest, some business inclined people do buy the oil from the wholesalers and store them in gallons, drums and kegs and store them through different methods and when there is hike in the price, they resale it at more than double the price it was bought. Technically, at times, the hike of the prices is due to the majority of people that store the oil but one cannot blame them because the economy is harsh and everyone is looking for a way to make profits. In my location, the business is very profitable and some people do export them outside to foreigners. This business is one of the goldmine which some are yet to discover. What are your thoughts?

 

[Sotherefore]

Palm oil business as I understand is the type of business that is being done in the local villages by local peoples and base on my understanding this is really a profitable business and has generated thousands and millions of naira to people who are engaging in the business .
Anyone that is ready to also engage in this business who is not living or ready to settle down in the rural settlements will only have to buy it after being processed to either sell it in the Urban settlement at a high price or keep it for long-term purposes as the price for palm oil will always increase during a certain period of time.

Well if you can be able to do it this way I believe you can be able to generate yourself some money.

It may not actually be the best for you to set up your own palm oil bprocessing industries in the Urban settlement because the availability of raw materials for the production of palm oil won't always be available and as a result there is no need for you to be paying high cost of transportation trying to important them here.

 

[Kendy]

I think the thread starter has a very apt thought in agriculture. Indeed, agriculture is the bedrock of a nation but it amazes me how in my country, despite the favorable climate, we still find it hard to have bountiful harvest. Well, the incessant insecurity especially in the northern part has made it difficult for farmers to plant without the fears of being attacked. In every part of the country, there are acres of a palm tree farm, where like you rightly said, has its due season but this year going somehow because by now, the price of palm oil should have reduced to help those who want to store in order to resale in the future when the price is high.


When you purchase or Mill Palm fruits in a good way, following its procedures, then it can last in storage for more than a year, without changing the taste, the smell or the colour. This business is one venture that has made people become millionaires overnight. The business involves a lot of work but to gain money, you need to keep your fancy shoes and get to work. In storage, you need to keep the oil above the ground level so that the cold floor does not affect it but rather, place it on planks and keep it from the wall.

 

[Augusta]

Palm oil selling is a lucrative business especially in my location because we consume it slot. Alot of our dishes taste better when enough palm oil is added to the dishes so those selling it make money daily.
Another thing is that palm oil can be used for other purposes even for making some creams and stuff so it is readily going to be bought and some people even buy in large quantities to make a resale. Just like other products oil can be bought in large quantities and stock when the price is low and resale to make up to times 2 of the price when the price is high.

Another good thing is that palm oil business booms almost all the time as it is used in and out of season. There's no time that palm oil wouldn't be needed as it is one of the vital ingredients for food

 

[Dora Wi]

I think it is important to note that palm oil businesses are excessively harmful for the environment.

 

[eldavis]

Some years back, I would have discouraged anyone planning to go into palm oil business, but right now I would even encourage you. During my service year, I spent the whole year in a community that has palm oil as one of their major ways of making money. It ad there I came to realize that palm oil is one of the most lucrative jobs out there. People are making alot of money form the palm oil business.