₦airaland Forum

RealityShot:
hi.. Great info..

pls how long does the egusi buying season last?

when is the selling season?

how can one store it properly ..?

any options for delivery to ph?

where are the goods coming from?

thanks

Buying last about 10-12 weeks but early buyers get better prices

Under normal circumstances, selling should be done within 3-4 months prior to new harvest however given the abnormal trend in the last couple of years, within 3 months of purchase is ideal regardless of the margin

Unpeeled egusi needs no special storage procedure, bag and stake in a dry environment.

For now, we do not have direct vehicles to PH, Ramat park in benin is the closest but if orders are sufficient to fill a 5-7 ton truck, vehicles can come in directly

All egusi grown and processed in nasarawa. Goods move from either keffi or nasarawa

Delivery options for processed Egusi (Melon)

Consignment of 100 bags or more can have more proximate delivery options in Lagos.

Consignment of not more than 70 bags can have direct delivery made to their location in warri and environ.

Direct delivery to Ramat park in Benin city.

Retail price of melon

Machine peeled melon: average retail price of 1000-1100 per custard bucket

Hand peeled melon: average retail price of 1300-1400 per custard bucket.

NB:
As you move down the value chain, the margins are higher but turnover may be lower. The risk inherent is also lower down the value chain

1 custard bucket weighs 2.5 - 2.7kg

Pricing for hand peeled at above rate for:

65 modu bag =N28,240
78 modu bag =N33,440
91 modu bag =N38,640
106 modu bag =N44,640

All inquiries to info@farmsynergy.com

Pricing of processed Egusi (Melon).

Bags are sold based on the number of modu in them.

Each modu goes for N450 each while logistics cost is N2240 (N1340 for transportation + N500 for bagging and sewing + N200 for bag/sack + N200 for loading to Ile- Epo, Arena market, Oshodi, Ikotun)

Thus 50 modu bags go for N24740

60 modu bags for N29240.

Prices quoted above are for machine peeled egusi only

For hand peeled egusi, modu price is N400 each though modu ratio compared to machine peeled is 10:13.

Thus a 50 modu bag of machine peeled is equivalent in weigh to 65 modu of hand peeled and contains 27 custard buckets

60 modu of machine peeled is equivalent in weigh to 78 modu of hand peeled and contains 32.5 custard buckets.

70 modu of machine peeled is equivalent in weigh to 91 modu of hand peeled and contains 37 custard buckets.

82 modu of machine peeled is equivalent in weigh to 106 modu of hand peeled and contains 44 custard buckets.

We will be analyzing some of the difficulties we experienced last season as we officially flag off the egusi season in earnest.

Price update and review will be given with a view to understanding the potential risks and gain associated with the investment

Good morning and allow me welcome us back from a well deserved break.

It's been a torrid season and it can only best be described by this quote by J. K Rowling

"It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all- in which case 'you fail by default"

damanjohn:
Greetings Nairalander and interested agriculture investors

Everyone including companies and not forgetting oil and gas exporters from Nigeria are now diving into agriculture business


I am here to reveal to you a agriculture crop that can make you lot of money

Though I was introduced to this business about 2 months ago but I am really enjoying the business


The business is all about buying and selling of moringa seed


Moringa seed price is cost and the demand is what to write about. The least price you can see people selling moringa seed is #1500 and up to #2000 per kg


The business is for you to buy moringa seed from a secret location at a price of #500 per kg and you sell at #1500 per kg or more


I will guide you on this lucrative business if you are interested and also reveal to you the secret location where you can buy moringa seed at cheap price of #500 per kg

Though I charge a token for it


Call me on 09075391906. Or inbox me

There is no secret location. Moringa is readily available in a lot of locations.

However i am willing to invest if you can post or send me the proximate analysis of your moringa.

Will await it. Thanks

debeey87:
Thanks for taking out time to share your knowledge. God bless you very much.

Still on the timing and going by your reply below, there are usually 3 prices surges. So usually when are the surges and what % increase will you be looking at over your entry price. I know the margin can't be assured, but a working estimate will be appreciated.

I didn't suggest there are only three surges; i have only said i will prefer to exit by the third price surge.

The first price surge occurs once egusi hits the markets from the farm sometime in late july- early Aug. Prices move from entry price to 18k.

Second price surges may go higher up but stabilises at 22k-24k, the third surge happens late sept/october and is characterised by artificial scarcity and a two week price increases. 27k-29k is almost assured and sustained at this period.

Prices almost always drop back to 22k range two weeks after it peaks then steadily rises to the 30+ range before dropping.

For the record, median price in the last 3 years has been 28k for rebagging and 22k for bags that have been prebagged prior to resale. This should serve as a guide for deciding when and how to sell.

debeey87:
Thanks for the enlightenment. Still on timing. When you buy in June - August, when is your selling period considering harvest is towards year end.
I'll assume it's before the harvest in November or so but still want to know your own timing.
Thanks once again

Egusi is harvest in July/August.

For best prices and given last year's trend, exit will be targeted at second/third price surge which should be sometime in october.

Alternatively given market dynamism, sales can commence later but as processed commodity. While this approach may bring about low ROI, our intention is to assure margins are in the green

debeey87:
Good job you're doing sir. But am still confused how you intend to get dry egusi when the rains will be heavy in June. Can you shed more light on the timing. I am also a new entrant into the commodity market

Thanks for the kind words

The entry period is essential for the pricing suggested. Some farmers in the kogi axis plant earlier than others so egusi will be available from june in trickles.

Given the glut experienced last year, it is most likely that rebagged melon will be available at reduced prices around that period

Thirdly, we have a working arrangement with farmers who are planting. The best time to commit them to sell is prior to harvest when market forces may totally determine prices.

While June has been set as target period, we will continue to buy all through till august if prices remain within range

As indicated earlier, entry price for egusi this year shouldn't exceed 18k for ease of sale. Target price is 12-15k per bag (unpeeled) (machine peelable).

We will be processing for sale to market directly this year in order to have multiple sales options.

Arrangements have been made for direct transportation to Ramat Park, Benin; Ikotun and Ile epo in lagos and Enugu.

Purchases of egusi will start in June and i will update as we progress on the Egusi Purchase Plan for this year.

Some commodities will also suffer from this diversion to light meals and fruits. Careful evaluation of your zone and target market is important in order to identify them..

If you are still holding Egusi, please initiate action on sale as new harvest trickles in from June, prices are already going south in anticipation of that.

The rains are here and some have started planted. Knowledge of the timing of harvest is essential. Acquiring information on crops farmed is also important as some zones do crop rotation which means early harvest of commodities

For Guinea corn, beans, millet, maize holders. The price surge is soon as the fasting period is characterized by price increase of grains and fruits consumed during this period.

With the fluctuating exchange rate, marginal ROI of 15-30% may be ideal so be guided.

Olayimikami:
Please note that for either of the partnership, presence at the meeting is required prior to investing.

My numbers are active again and once a list is compiled, a date can be fixed for harmonisation of the project(s) and to set targets to meet our goals.

Meeting can be in any of Lagos, Ilorin, Abuja, Nasarawa, Kano or Benin

Currently in Benin and will be there till Friday, 24th of March. For those interested in partnership, text or pchat for details.

henrimoto:
Happy New Year Mr. Ola. May the best part of 2017 never pass us by.

With the current price of dried ginger, by the end of January, the price will get to #30k.

Ginger @18k currently. Dynamic market it is so thread carefully

Due to the overwhelming number of calls, it has become essential to remodel the current structure of operation.

The current model is wired around me and has the tendency to fail long term. While my intention is to attend to as many calls as possible, its almost unachievable without improving on the structure.

The sheer diversity of interest also creates a challenge as most want instant profit while my main focus is on growth, innovation and sustainability.

As things evolve, will keep the house posted.

As the farming smarkeykicks off, we would have completed a full cycle for most commodities. It is essential to sell off produce stored prior to the harvest of the next season sso planning is crucial.

The most challenging produce last year was melon (egusi) and i have been inundated with calls as regards sales. Most holders struggling with sales have either gone in with limited skill/experience or with the wrong approach.

Dry pepper also suffered similar faith from buyers as most ppl only look at the margins/time frame to purchase commodities.

It is critical to match your purchase capacity with your sale capacity.

Always have a market in mind prior to purchase as this makes sales easy.

Don't be too greedy, there is always a correction in the market if margins are too high.

For those who invested in Guinea corn and Beans as advised, it has been a slow start to the season, largely because of the margins available with cashew trading and the share size of the cashew market.

With international buyers lurking around, the quantum of cash available for trading it makes nonsense of growth in other commodities.

Expect an upward review as the cashew season ends in May.

Guinea corn is flat @20k-24k/bag
Beans @320-350/modu. Sacks are bagged as either 80 or 100 modu

Been a while.

Cashew has been the commodity on board for a while, though entry prices were ridiculous and unsustainable long term.

The naira appreciation in recent weeks has however brought back some sanity with price drop of almost 30% in some locations.

Prevailing market prices hover between 400-500k/ton.

damanjohn:
We don't follow what they told us.if you read my first post, you will understand all


Others location after buying from the farm,they sun dried it before stock it

But in lafia , they don't sun dry and thats the only difference there


When we first visit Lafia with my boss

We do some testing and some little calculation and we later discovered, its a wise decision to buy from Lafia

We buy at good price , we then sorted it and my boss was very happy with the turnout

Its just a secret.I don't think Lafia cashew is as Bad as people make it look


I noticed lot of white guys also buys from Lafia

I see lot of them I daily in


Cashew is all about sort, you buy at cheap then sort it and believe me you will love the result


We loaded 300 tonnes already


I'm now a friend to some of the cashew seller


I can help you arrange for good deal and also help you sort it for better result

Cashew is not all about sorting. Sorting does not necessarily improve the KOR.

Generally, our cashew quality in the north is poor compared to others, drying only helps to drop the moisture content below 10% which is recommended

damanjohn:
We are In Lafia with My Boss, to buy cashew nut

The price was very cheap and I think , the cashew is also good

Though the cashew is not sun dry but the look is OK

We bought at #480,000 per tonne

We then pay #10,000 per tonnes as agent commission

We then pay #10,000 per tonne as hire service fee, for guys to help us sun dry the cashew and also remove the few bad seed .

So far so good, the cashew is really looking good as the process of sun drying is going on.

Total #500,000 spend per tonne


If anyone have interest in Lafia cashew can contact me 09075391906

I agree with the KOR assertion, however you can't have 500000/tonnes after sundrying and removing bad seeds as there will be weight loss

Olayimikami:
I will be shuttling between Oyo, Kogi and Nasarawa for the cashew season which has been flagged off already. Commodity is already available in trickles and prices set

We have already initiated action by liasing with farmers and will mobilise to sites by mid february. I already have a couple of investors in this regard and will update on or before monday on pricing and opportunities available

Its been two weeks since i promised a feedback. I had to delay primarily because of the volatility in cashew prices. I must commend those who entered early as it has really been an uphill task getting good volume at the right price.

Cashew has been sourced for export for a while now, Nigeria being the 6th largest exporter. In recent times, NGOs have contributed to sensitising farmers into cashew farming thus increasing our production capacity even though not sufficient enough to replenish the aging rate of available cashew plantation.

I was privileged to visit a handful of those farms and it was a pleasure to behold. For the averagely dedicated farmer, it has turned a near goldmine

Precisely 10 days ago, cashew traded for 375000/ton in Kabba, 450000/ton in Ogbomosho, 500000/kg in Ayingba, 510000/ton in Ankpa, 340000/ton in Ilorin, 360000/ton in Lafia, and 380000/ton in Keffi.

Warehouses offered 560000/kg - 520000/kg depending on quality. Most accepted seeds within 12% moisture content and discounted for impurities and foreign matter. With improved KOR and drying below 10%, higher returns could be achieved with offers as high as 650/kg to Lagos

If we track back to today, cashew prices have skyrocketed out of reach with most locations trading above 400000/ton and an average price of 500000/ton.

For qualitative cashew though, Ogbomosho comes first, Kogi, Ilorin, Enugu comes next while others follow, the northern zone being of acceptable lower quality. The reason of course is obvious, since cashew is plucked off the tree up north wheras cashew should be allowed to drop for better KOR.

As it is, we have already accepted a couple of investors for the first stream, of which we are able to satisfy our commitment towards farmers and as such may not be able to accomodate more. However, we expect another window of opportunity to open sometimes in March/April

henrimoto:
When is the planting time?

May/June (preferred) or October. Harvested in four months. Crop is drought resistant

Cream landrance/variety preferred here.

smartoskie:
Please i like to know the current price of dry split ginger in the market for a 40kg bag

28-32k depending on location

I will be shuttling between Oyo, Kogi and Nasarawa for the cashew season which has been flagged off already. Commodity is already available in trickles and prices set

We have already initiated action by liasing with farmers and will mobilise to sites by mid february. I already have a couple of investors in this regard and will update on or before monday on pricing and opportunities available

As a fallout of the discussion and market review done, questionnaires will be made available here for retailers and distributors to fill and return accordingly.

This will help build both the existing and cluster groups we hope to put up and create a direct channel to end users.

It will also help rectify the disparity in modu sizes, bag sizes, no of paint buckets in a bag and weight so intending entrepreneurs can be properly informed.

You may have noticed i actually took out time and didnt respond to comments for a while.

I had to get out of my base, take a peep into what obtains in other zones and rest a bit.

I want to thank all those that made out time to schedule and come over so we could discuss and physically meet in ilorin, ibadan and lagos.

It's early stages though but the synergy we hope to create is bound to birth greater things.

For those who may have called in but couldn't make it, "nagode sose". There will always be opportunities in the forseeable future.

It was a pleasant experience for me and i learnt quite a lot from some of the brainstorming session

For those who tried calling but couldnt reach me, the best way to assure i get back is only if you send a text to my 07054515851. I always respond to that even if it takes 48 hours.

df2006:
Hi ola, I sent you a mail to connect, in need of large quantity of maize.

Amazed at the depth of your thread.

You can reach me directly on 08023916914.

Best Regards.

Thanks for your kind words.
Will revert. Regards

VERDA:
Been trying to get your contact oga Ola... Can't find it, please add me. 08081246412 . have egusi in large quantity, sourcing for buyers.

Guess the nairaland mail server issue affected the delivery, however i will add you today and we can discuss though i am currently out of my base

henrimoto:
Mr. Ola. good Evening.

Please , throw more enlightenment on ' Bambara bean' , that bean used for making "Okpa".

When is the right time to buy and store it up?

Apart from Benue State, which other state in the middle belt area has it in commercial quantity?

Bambara nuts..... Good produce, mostly scarce but available in good quantity in benue, nasarawa, taraba axis.

Exportable to cameroon and some other west african countries.

Harvested about the same time groundnut is but drying takes a while. Was 200/modu entry, 350-400/modu about 3 weeks ago.

34k for a 100kg bag in mile 12,Lagos. Thats 340/kg though actual supply price may be reduced by 1-2/kg so retailers can retain a profit.

If I've left anything out, please let me know

EMMAACHILE:
This preservative is dangerous especially if it is still active. I use this to drive snakes from my compound when I had snake infestation many years ago.

I agree it's dangerous, hence a withdrawal period is applied before onward sales. Please endeavour to wrap properly before applying to grains.