Obaolami:
@ihart... please your contribution is needed

You know, I have been telling people to start storage since mid February. Some said they will wait till April ending, some said June. The reason why I said that was because I have observed that virtually all the prices of food commodities that went up never came down, so I felt Palm oil is not going to be an exception. For us to have prices come down to 10k and 9k by March, I had the strong feeling that it was going to be the lowest for this year, although this may change but...

With the trend of things, here is my advice. If you are going to store oil till December, close your eyes and start buying now, even though price will still drop but By December oil will hit above 20k.

This morning oil is 12k at Nkwoegwu, Umuahia Abia State. Later this morning, it's possible that they will sell for 13k or more.

iHart:
This morning oil is 12k at Nkwoegwu, Umuahia Abia State. Later this morning, it's possible that they will sell for 13k or more.

It's 12k5 Delta state

Doing storage this year is for the strong hearted...

iHart:
Doing storage this year is for the strong hearted...

I believe the higher it’s bought now then the higher it will be sold in November December?? People will still make their profit .. or what is your opinion sir

dondo83:


I believe the higher it’s bought now then the higher it will be sold in November December?? People will still make their profit .. or what is your opinion sir

what if what happened in 2018 happens this year?

What happened in 2018? I'm a newbie on the business.

iHart:
what if what happened in 2018 happens this year?

Wonder1844:
What happened in 2018? I'm a newbie on the business.

people bought oil at a price during the peak period around April hoping that price will go up further during the scarce period. However, between August to November, price dropped. For fear of dropping further and incurring heavy loss, people rushed and sold off their oil at a "reasonable loss". Then, it was assumed that the drop in price was occasioned by influx of imported oil into the country.


Cost of palm oil has a great ripple effect on the cost of several other food commodities in the market. With the price going up, cost of living is astronomically going up too. Govt may wake up one day and give waiver for importation of palm oil just to cushion the effect on cost of living. If that happens and you stored oil, Hmmmmm I pity you.

iHart:
people bought oil at a price during the peak period around April hoping that price will go up further during the scarce period. However, between August to November, price dropped. For fear of dropping further and incurring heavy loss, people rushed and sold off their oil at a "reasonable loss". Then, it was assumed that the drop in price was occasioned by influx of imported oil into the country.


Cost of palm oil has a great ripple effect on the cost of several other food commodities in the market. With the price going up, cost of living is astronomically going up too. Govt may wake up one day and give waiver for importation of palm oil just to cushion the effect on cost of living. If that happens and you stored oil, Hmmmmm I pity you.

what do you suggest people that have the intention for storage should do then, yes, suggestions, because i believe no one know what will happen tomorrow, but base on your experience, what opinion can you give

kizwid:

what do you suggest people that have the intention for storage should do then, yes, suggestions, because i believe no one know what will happen tomorrow, but base on your experience, what opinion can you give

from experience, oil is going to drop between May and June. Any slightest drop you experience any moment from now, just buy. The drop will be short-lived. If you miss it, wait till next year.

iHart:
from experience, oil is going to drop between May and June. Any slightest drop you experience any moment from now, just buy. The drop will be short-lived. If you miss it, wait till next year.

okay boss

iHart:
from experience, oil is going to drop between May and June. Any slightest drop you experience any moment from now, just buy. The drop will be short-lived. If you miss it, wait till next year.

u mean prices will still be lower than current in may & June ?

iHart:
people bought oil at a price during the peak period around April hoping that price will go up further during the scarce period. However, between August to November, price dropped. For fear of dropping further and incurring heavy loss, people rushed and sold off their oil at a "reasonable loss". Then, it was assumed that the drop in price was occasioned by influx of imported oil into the country.


Cost of palm oil has a great ripple effect on the cost of several other food commodities in the market. With the price going up, cost of living is astronomically going up too. Govt may wake up one day and give waiver for importation of palm oil just to cushion the effect on cost of living. If that happens and you stored oil, Hmmmmm I pity you.

�

Thanks

iHart:
people bought oil at a price during the peak period around April hoping that price will go up further during the scarce period. However, between August to November, price dropped. For fear of dropping further and incurring heavy loss, people rushed and sold off their oil at a "reasonable loss". Then, it was assumed that the drop in price was occasioned by influx of imported oil into the country.


Cost of palm oil has a great ripple effect on the cost of several other food commodities in the market. With the price going up, cost of living is astronomically going up too. Govt may wake up one day and give waiver for importation of palm oil just to cushion the effect on cost of living. If that happens and you stored oil, Hmmmmm I pity you.

Good day everyone, many thanks to all contributors, that is the essence of the forum. Oil would drop hopefully as we go into the new month and those having Intrest to store should take advantage of the window.
I processed for 10k this morning so am optimistic it would go down.
Between: millers go for local fruit, it's a bit affordable until the price is relatively low to combine agric.

donparosky:
Good day everyone, many thanks to all contributors, that is the essence of the forum. Oil would drop hopefully as we go into the new month and those having Intrest to store should take advantage of the window.
I processed for 10k this morning so am optimistic it would go down.
Between: millers go for local fruit, it's a bit affordable until the price is relatively low to combine agric.

Thanks for the update.

yetunsbay:
u mean prices will still be lower than current in may & June ?

one of my suppliers called me today to tell me that price is dropping. We will observe it this week...

iHart:
one of my suppliers called me today to tell me that price is dropping. We will observe it this week...

waho that's a good news

yetunsbay:
waho that's a good news

Yes, we hope it's a good news but they are still insisting on 12k at the mill today

Price is now #13000 in Osun state.And I never store o.I dey fear for price crash after purchase.Infact I don't even know what to do again

Price is dropping in my side. Today it was 10500 at Oriendu market, Ovim Isuikwuato Abia State.

Can someone confirm the drop in price from their area?

popoolaRofiat:
Price is now #13000 in Osun state.And I never store o.I dey fear for price crash after purchase.Infact I don't even know what to do again

Hello ma... have been trying to pm you for a while now, I don’t see feedback... please I need I connect from osun (oke ode) please kindly reply to my Pm o reach out to me via WhatsApp. Please...
08032167306

Please is it proper for me to store my oil in my car park? I need an urgent response, thanks!

juliusriches:
Please is it proper for me to store my oil in my car park? I need an urgent response, thanks!

Yes but put them on pallets

Pls I need up to 2000 Bunches of fresh palm fruits. Pls can any one help. Am in Aba osisioma

Thank you for the prompt response!

chirality:
Pls I need up to 2000 Bunches of fresh palm fruits. Pls can any one help. Am in Aba osisioma

I can supply u I'm in bayelsa call or chatt me up 09032791287

What's the current price of palmoil in akwaibom state.

alexsamjnrr:
Welcome to the business. You can contact me for your empty 25ltrs Jerry can. Location: Pamo Medical University Road, Tap Junction,Oyibo Port Harcourt

How.much is your jerrican

price update please @ Donparosky

Fk2021:
price update please @ Donparosky

Co asking.

If possible, can we have the prices in the south west as well please.

Thanks in advance