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Take A Piece Of The Billion Dollars Spices Market - Agriculture - Nairaland

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Take A Piece Of The Billion Dollars Spices Market by iniobong888(m): 7:05am On Oct 05, 2020
What is Pepper soup without pepper or Soup without crayfish and pepper? Who would cook Jollof rice or fried rice without spices. Spices is an Integral part of our meal. We all know that spices are seeds, fruits, roots bark and other substances primarily used in flavouring and colouring food.
Spices indigenous to us are pepper, thyme, Nutmeg, black pepper, onions, Basil, Onions, locust Beans, scent leave, ginger, garlic and turmeric , it is not limited to this list. In 2019 according to the Bureau of statistics Nigeria total spending on food was N22.8 trillion, the amount spent on food is inclusive of spice as a matter of fact, the value chain of Spices in Nigeria is worth over $2billion (RMRDC)
This is sector of the food industry that has many opportunities that are not explored, some of the opportunities in this value chain could be grouped into
1. Processing and Packaging of Spices ( this could be outsource to a packaging and processing company ) you focus on marketing and a company packages for you.
2. Farming of Spice
3. Marketing of Spices
4. Exporting of Spices( with proper guidance it is easier to export to U. S. A.)
5. Electronic distribution of Spices

1. Processing and Packaging of Spices : There are many indigenous spices that is not packaged and they are crying for attention, do you know that we can have a mixture of two to three spices mixed together. Some of this Spices can be processed into dry form and some could come in either liquid form or in dry form , it could also serves as a table shaker handy for table meals .
Interestingly there are companies that can outsource processing and packaging to while you focus on marketing.
2. Farming of Spices: In cultivating spices one need to do a deep analysis and a business plan, taking into consideration the type of Spices that is economically viable. Taking a case of planting one hectare of Pepper, with one good seed, one would have 3- 5 tons of Pepper, pepper Sells for N8,000 for 20kg, it even goes as higher as N21,000 during off season. It is a commodity that can give one up to N1,200,000 or above depends on the price per ton, with expense one can make a net profit of N800,000 per hectare.
3. Marketing of Spices: There are opportunities in the marketing of Spice, if one buys spices from the farmgate and sells in commercial cities. An example of this is buying dry pepper during harvesting season for N15,000 to N18,000 and selling two months after for N30,000 to N35,000. There are also spices that you can buy repackaged and sell, for some spices one can buy and process.
4. Exporting Spices: One should take a piece of the $16.5billion international market for spices, which we have some spices in Nigeria that is highly needed in the international market. It is interesting to note that some of these spices commands higher value when process. For example powdered ginger is more expensive than dry split ginger.
5. Electronic distribution of Spices: one can design an application that is solely on distribution of Spices
I can bring Structure to your spices business, provide a business plan for spices. There is a company that you could outsource processing and packaging to, this makes it possible to save money and focus on marketing. Iniobong(08102816356)

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