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Kola Nuts Export Potential

Kola nut is the seed of the cola tree, which contain caffeine and other supplement that increase energy and at the same time, improve health; it is indigenous to west Africa, can be chewed or made into a drink.

At the present time, Nigeria is ranked first in terms of top Kola nut producing countries with over 52% of the market production value; correspondingly, the country produces over 143,829 Metric Ton of the product each year.

According to pricing statistics gathered from Intelligence report, the average Kola Nut production price (in real time) stood at $3770.50. With Nigeria exporting over 52% of Kola nut used around the world, her exporting value stand at just below $8 billion.

As can be seen, Kola nut remain one of the top Nigeria export products; in fact, it generate substantial revenue for the Nigerian government.

How much can one invest in Kola nut business in Nigeria?
As shown above, Kola nut farming business in Nigeria is profitable. Depending on your pocket, the initial capital to invest in Kola nut business can be as little as ₦100,000.00. This can go up to ₦2,000,000. if you want to start on a higher scale.

Nevertheless, it is advisable you secure a buy first before committing your cash into Kola nut exportation.

In the export business, it doesn’t matter if you are a newcomer testing international waters for the first time or an established exporter looking to grow your business abroad.

Your main challenge is always to find buyers for the goods or services you provide. Selling in an unknown country is never easy. There are physical distances, cultural differences and language barriers to consider, among other things.

Luckily, we live in a time where technological advances have shrunk our world and brought us closer. This means it’s easier to find foreign buyers for your export business today than it was, say, 20 years ago.

The future is Agriculture. We should be able to feed our nation and export to improve our economy.

Bitter Kola

Known for its health benefits, Bitter kola has greater variety use; from its use as an ingredient in the production of Kola soft drinks to agricultural produce in the treatment of bacterial infections such as tuberculosis and diarrhea.

Be that as it may, Bitter Kola exportation is profitable. According to statistics, Nigeria is one of the highest producers of bitter Kola in the world. With about 90% of its current production consumed locally. This is an opportunity for individuals looking to start Bitter Kola exportation; as it is of high demand in countries like Great Britain, America, China, India and other Asian countries.

What is the current price of Bitter Kola?
Presently, you can sell 1kg of Bitter Kola at the international market for $25.00; while you can easily purchase it locally at ₦950.00 (less than $1.90). The profit margin is high, even after factoring all overheads and cost of shipping.

Similar to the process of exporting Kola nuts, I will advise that you get a serious buyer before committing to much capital its exportation.

One question often asked is, where can I get Bitter Kola in large quantity?

You can purchase from farmers in Ondo State, Oyo State, Ekiti State and other southern part of Nigeria. There, the farmers have them in large quantities and they always look for good buyers

Commodity traders are expected to have a great understanding of how to successfully source and deliver the commodities they’re seeking trade finance for.
In some cases, commodity traders are expected to have 30% of the total commodity trade finance they need to execute the purchase and supply of the commodity.

Crayfish Export Potential

Demand for this freshwater crustaceans that has resemblance to small lobsters is high in the international world. Although it is closely related to lobsters, it is different in look and shape. Crayfish has great health benefits; in fact, that is the main reason why it is eaten all over the world.

By and large, the global demand for Crayfish makes it an export product to look into. The demand is rising year-in-year-out because the number of consumers looking to pay for the edible fishery product is high. As a matter of fact, the global crayfish market (importation and exportation) are hitting all-time highs.

China, a populous nation in Asia contributed largely to the rising in demand of Crayfish. The market for Crayfish worth billions of dollars for the fact that hundreds of thousands tonnes of the fish is being consumed by the day.

As can be seen, there is high demand for Crayfish, especially in Asia, making it an export product that is highly profitable.

It's a wise decision to Export because sometimes local prices are way lower than the standard export prices are. For example, If you want to start a direct export business in Nigeria, then you need to know very well, what kinds of goods are exported from Nigeria. With direct export business, product selection is very important.

Sesame Seeds as Export Potential

Sesame seeds in ranked second when it comes to the sought-after cash crop in Nigeria; the first is Cocoa. As a result, Nigeria is ranked third on the list of major producer of sesame seeds across the globe. Only India and China (respectively) produce more.

Presently, Nigeria currently produces over 300,000 tonnes of Sesame Seed per year. And with the current ₦600,000/tonne in the global market, the country is raking in substantial revenue for the exportation of Sesame seeds.

Where do Sesame Seed grow in Nigeria?

Most compelling evidence shows that the seed is widely grown in the following states:

Jigawa (highest producing states);
Benue;
Nasarawa;
Yobe;
Gombe;
Kano;
Plateau;
Katsina; and
Kogi States.
As shown above, Sesame seed exportation is one of the valuable agricultural export products in Nigeria.

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Yam, name given to an edible tubers that belong to the family of Dioscorea genus has Nigeria as the highest producer. Nigeria yams are exportable.

When it comes to export of agricultural products for profit, Yam tuber exportation should also be considered.

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To sell a product, you need a market for it. Where is the demand? Is it stable? Is it profitable in short and long term? Are there trade barriers? In export, your market is a country or countries with a demand for your product. So, how does an exporter go about finding this market?

The demand for Nigeria Agro commodities in International market are on the rise. Book a space and let's an expert help you navigate and resolve your great Export challenge.

It doesn't matter if you are a new comer testing International waters for the first time or an established exporter looking to grow your business abroad, your main challenge is always to find the right market and buyers for your goods and services you provide.

Honesty, selling in an unknown country is never easy. There are physical distance, cultural barriers to consider and language among other things. Luckily, we live in a time where technological advances have shrunk our world and brought us closer.

Understanding the Market

In order to develop your export business into a success, you should make sure that you understand your target market(s). This means you have to do some research about your export destination(s). It allows you to access market opportunities and the cost of capturing them.
Good market research should not be an academic way of only embedding assembled facts and figures. It rather has to focus on what drives your target market(s) and how to get the best out of it.

Happy new month of August

The international trade industry may be highly lucrative for traders who have learnt the ropes and can successfully chart a course that is mostly bound for success. You can trade from Nigeria, Asia, Europe, America, Africa or other parts of the world.

To develop a successful export business, a good understanding of your target market(s) is essential. This involves conducting research on your export destination(s).

A good market research should not be based on facts and figures only, It should also focus on factors that drive the target market(s).

Importance and Advantages

Following the structured export procedure will give you a better understanding of the full export process. Hence, your company will benefit from the right and up-to-date knowledge you receive by following the right procedure. Besides, it leads to:

Minimising your export risks ensuring that exported goods conform to importing country specifications.
Meeting buyer requirements for export by providing evidence of origin and delivery.
Supporting you to formalise your export business
Supporting you in qualifying for export incentives

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Quality Competent Authorities

It is important to make use of reliable and verified quality competent authorities (QCAs) as an exporter. QCAs are quality assurance agencies authorized and competent to issue export certificates. Most important advantages of using QCAs include the fact that:

it builds trust towards international buyers
it ensures compliance to international standards (which is needed for market access)
it ensures focus on product improvement and innovation.

In running an Export business, you need to find a balance between getting paid what you can comfortably accept and not putting you price above what your clients can comfortably afford. When you do this, you’d always find the right market price, and your project numbers would grow a lot faster.

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It is better for Nigeria to Export than Import. If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.

Who Is A Commodity Trader?

A commodity trader is an individual or organisation that trades in any type of physical commodity between two different markets either as a broker or the direct seller or buyer. It’s the job of the commodity trader to make the trade happen, as countries mostly do not handle the trades themselves, but rely on local organisations to carry out the trade with businesses in international markets.

To guarantee the quality of goods, international buyers and most exporters employ the services of inspection companies, but mostly world-class inspection companies that are known for their quality of service, age in the industry, and consistency in delivering on guaranteeing the quality of goods loaded before it arrives the destination country.
If you want to know which companies you can use to test and guarantee the quality of goods been shipped from a sourcing point to a loading port and eventually to a destination country.

Top tips to understand the market

Gather basic market information, from import regulations to trade statistics. You can make use of several freely available Market Analysis tools.
Narrow the focus of your research to your product or service. This will make the whole process more specific.

BUSINESS POTENTIAL

What is the business potential of agro-export trade? With cashew nut and in specific, the kernel in introspects, cashew kernel export is a promising market. According to recent statistics from NEPC, Germany, Netherlands, United Kingdom, Poland, France, Japan, United Arab Emirates, Canada, Lithuania and Ireland are the top ten markets with the largest untapped potential for Nigeria cashew kernel export. Vietnam is currently the largest export destination for Nigeria cashew kernels with average yearly exports of 3.4milliona dollars. It is also Nigeria’s largest competitor on a global scale. Poland is a small market for Nigeria but France is a new market.

For ginger, untapped markets exist in Netherland, United Kingdom, Pakistan, Japan, Bangladesh, Canada, Malaysia, Germany, UAE and Italy. Estimated untapped potential is largest in the Dutch market with 4.5 million dollars of additional export to be reached up till 2021. The Netherland and UK are very interesting. There is a lot of additional export potential there. Try to access new markets like Pakistan, Japan and Bangladesh. Also, keep trying to expand export in Germany and the UAE.

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Commodity traders are expected to have a great understanding of how to successfully source and deliver the commodities they’re seeking trade finance for.
In some cases, commodity traders are expected to have 30% of the total commodity trade finance they need to execute the purchase and supply of the commodity.

The export business remains one of the most profitable businesses in the world, including Nigeria, with profit margins going anywhere from 30% to in some cases over 100%. With the growing clamour by the Nigerian government for entrepreneurs should go into the export business, the need to effectively educate people on everything they need to know and to show them how to make their first one million Naira from the export business in Nigeria has become very paramount.
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