Rachael
Verified member
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?
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?