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.

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.

Olayimikami:
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.

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

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

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

Olayimikami:


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

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

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.

Olayimikami:


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:
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.

Keenly observing.

please iam looking for a reliable source in Portharcourt to buy .6 ton of maize urgently, please drop your contact here so that I can reach you

Olayimikami:
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.

.........Whaooo ,welldone u re doing a very great job ,more grease to your elbow...please do u have info on capsicum pepper,like where it is most grown,and the month to buy it at the lowest price for storage? ..........

Thanks once again sir

Olayimikami:


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.

New stock.. fresh quality palm oil just came in order call or watsap # 08121680787...pick up point shomolu lagos

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"

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

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.

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

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

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.

I LOVE THIS!

Kudos.

Excellent thread. God bless you @olayimikami for coming up with this thread and providing this deep insight into the commodity market from your hands on experience.

I just found this thread yesterday and I have read every page of it.

I have however noticed that no one has mentioned shea nuts here. I understand the season is just about to commence. What is the likely entry price at the start of the season.

Olayimikami:
Delivery options for processes 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.

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

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

Olayimikami:


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

excellent Sir!
please that means buying is from June to August
and
selling is from November to January, right?

thank you

RealityShot:

excellent Sir!
please that means buying is from June to August
and
selling is from November to January, right?

thank you

You'll need to be more specific. Note that your initial quote was in respect to processed melon but I answered independent of that.

Are you interested in the storage biz or in the purchase of processed melon (egusi)?

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Olayimikami:


You'll need to be more specific. Note that your initial quote was in respect to processed melon but I answered independent of that.

Are you interested in the storage biz or in the purchase of processed melon (egusi)?

Good afternoon sir,

Thanks for what you are doing here.

If you dont mind, can i chat you on wasapp?

missbronze:
Good afternoon sir,

Thanks for what you are doing here.

If you dont mind, can i chat you on wasapp?

Yes you can

Egusi season is upon us.

Buying starts now.

Will update prices from three markets later tonight

I know i said last night.

Modu prices hovering between N120-N140 in Nasarawa, Gadabuke and Lokogoma axis

In the same areas, size 32 sack of unpeeled melon (machine peelable) is going for 20-22k in the interior markets and 23-25k in other markets.

Expenses may include cost of sack @ 200-300; cost of bagging @500-1000; sewing @150-200; loading/offloading @100 each; laada @300-500 and storage @500-1000.