amarilo:
Ok thanks. How much do thinkthe price will be by November.

Is foreign veg/groundnut oil in one litre bottle good biz in nigeria?

am going to be as succinct and candid as I can. oil prices are determined by lots of factors and it's too early to predict. the logic is always to buy at cheapest months so u don't have to panic. with d current price, you sure of making 5k per keg by the peak season minimum.
anyone who predicts now isn't being sincere.
God bless our hustles

those who intended doing storage should start now. don't wait for last minute rush. it's March already. my two cents

amarilo:
what is the price now let me consider what to do.

its hovering around 7000

donparosky:
those who intended doing storage should start now. don't wait for last minute rush. it's March already. my two cents

its not wise to start now. Wait a little to around April and May

donparosky:

am going to be as succinct and candid as I can. oil prices are determined by lots of factors and it's too early to predict. the logic is always to buy at cheapest months so u don't have to panic. with d current price, you sure of making 5k per keg by the peak season minimum.
anyone who predicts now isn't being sincere.
God bless our hustles

Now the economy is highly dynamic and I won't advise anyone to go into storage. Just buy and resell and do turnover. I remember a woman I asked to supply me oil for 8k and she said she is waiting for the peak period to sell. During December, price for fresh oil dropped to 7k and that was what she bought. Now what she has is storage, they price dropped even worse. She ran at loss. Third week of January I met a dealer and asked him to sell to me at 8500, he insisted on selling at 9000. Seven days after I bought 6800. I will not advise anyone to go into storage. The economy is highly dynamic now! I for see the price dropping below 7000 by April and May.

donparosky:
chief....ling time boss.

same... hope biz is all good fa?

iHart:
its not wise to start now. Wait a little to around April and May

storage, May / April.
please can u enlighten us more

iHart:
Now the economy is highly dynamic and I won't advise anyone to go into storage. Just buy and resell and do turnover. I remember a woman I asked to supply me oil for 8k and she said she is waiting for the peak period to sell. During December, price for fresh oil dropped to 7k and that was what she bought. Now what she has is storage, they price dropped even worse. She ran at loss. Third week of January I met a dealer and asked him to sell to me at 8500, he insisted on selling at 9000. Seven days after I bought 6800. I will not advise anyone to go into storage. The economy is highly dynamic now! I for see the price dropping below 7000 by April and May.

the cheapest windows for storage is March to April.
however dynamic the market tends, those two months have always been the best sir. Apart from price, the oil from this two months have less moisture and long shelf life. oil stored around May upwards usually require dehydration to stay long and expensive too.
some people don't want to do the biz as full time stuff so they prefer storing and disposing at peak periods.
I agree with you that turnover is d deal and have always maintained that, however to those who understands the art of storage, profit is guaranteed.
on a final note, no one is perfect, I just use the chikini experience to advise, so we welcome senior colleagues to also advise.
thank you for your contributions.
God bless our hustles

RealityShot:
same...
hope biz is all good fa?

boss,we pushing. God is faithful

iHart:
its hovering around 7000

i got at a higher price. So i have to wait a bot longer then. Thanks.

donparosky:
the cheapest windows for storage is March to April.
however dynamic the market tends, those two months have always been the best sir. Apart from price, the oil from this two months have less moisture and long shelf life. oil stored around May upwards usually require dehydration to stay long and expensive too.
some people don't want to do the biz as full time stuff so they prefer storing and disposing at peak periods.
I agree with you that turnover is d deal and have always maintained that, however to those who understands the art of storage, profit is guaranteed.
on a final note, no one is perfect, I just use the chikini experience to advise, so we welcome senior colleagues to also advise.
thank you for your contributions.
God bless our hustles

I think location also matters. I suspect Palm oil season don't start at the same time around the country. In my own side it starts April and peak in June. And I also suspect that the variety of palm tree also contributes to when the season start. In my area we have mostly the local type that grows very tall, not the "agric". You are right about the issue of water but the processing method also has a hand in the level of water. There are people who don't go the extra mile to boil out the water after pressing.

Anyway, I am not into palm oil business. I buy it as a raw material.

donparosky:
storage, May / April.
please can u enlighten us more

that's the period when palm fruits will be ripe for harvesting and there will be high supply of the oil and that will crash the price. You can buy at that period and store for sale when the palm fruits most have finished fruiting and oil becomes relatively scarce. Just like you have season for mango when almost all mango tree produces fruit, same applies to palm tree. That season, there is enough oil in the market and price usually drop. But when the palm fruit is out of season, oil becomes relatively scarce, and price goes up. However, if Cameroon oil and Malaysia oil hits the market, prices scatter irrespective of season.

In my village we call it "Ábà", the season for palm oil. The pronunciation is different from how you pronounce Aba city, in Abia.

iHart:
I think location also matters. I suspect Palm oil season don't start at the same time around the country. In my own side it starts April and peak in June. And I also suspect that the variety of palm tree also contributes to when the season start. In my area we have mostly the local type that grows very tall, not the "agric". You are right about the issue of water but the processing method also has a hand in the level of water. There are people who don't go the extra mile to boil out the water after pressing.

Anyway, I am not into palm oil business. I buy it as a raw material.

oh it's well.
The platform Is to share ideas. No one is a reservoir of wisdom. thanks for your contributions

let's hope and pray the policies of the next four years favours us the palm oil dealers.

Malaysian oil supply is killing storage business. As long as PRESIDENT MUHAMMADU BUHARI continue to open borders to MALAYSIA, there won't be any period of scarcity, so for now, I don't advice anyone to store palm oil. This is political economic analysis.

iHart:
Now the economy is highly dynamic and I won't advise anyone to go into storage. Just buy and resell and do turnover. I remember a woman I asked to supply me oil for 8k and she said she is waiting for the peak period to sell. During December, price for fresh oil dropped to 7k and that was what she bought. Now what she has is storage, they price dropped even worse. She ran at loss. Third week of January I met a dealer and asked him to sell to me at 8500, he insisted on selling at 9000. Seven days after I bought 6800. I will not advise anyone to go into storage. The economy is highly dynamic now! I for see the price dropping below 7000 by April and May.

This is Uyaigee reporting in attendance for lectures on this thread. I hope to start this palm oil biz asap. I have been reading through this thread since yest and writing down notes. Kudos to Don Parosky, Memongo , Peeo and the rest of you here. I hope there is still space for me sha.
I stay in AkwaIbom.
We will not hustle in vain!

Uyaigee:
This is Uyaigee reporting in attendance for lectures on this thread. I hope to start this palm oil biz asap. I have been reading through this thread since yest and writing down notes. Kudos to Don Parosky, Memongo , Peeo and the rest of you here. I hope there is still space for me sha.
I stay in AkwaIbom.
We will not hustle in vain!

you are welcome.
God bless your hustles

etiumo:
Malaysian oil supply is killing storage business. As long as PRESIDENT MUHAMMADU BUHARI continue to open borders to MALAYSIA, there won't be any period of scarcity, so for now, I don't advice anyone to store palm oil. This is political economic analysis.

the man has approved indigenization. let's keep fingers crossed

Are you in need of 25 litres empty kegs and jerry can in large quantity look no further pls call 08181018073

Any update about the latest prices

kisszhira:
Any update about the latest prices

x

price updates shortly. Just wanted the elections wahala to fizzle out.
The of us from South would understand

Theoooo:
Are you in need of 25 litres empty kegs and jerry can in large quantity look no further pls call 08181018073

Adding your location and sample pictures will boost your sales

@donparosky or any one with any info on kennel business,cracked and uncracked ,pls indicate.especially Western states..,ondo,Osogbo and Ibadan..Akwa Ibom too,serious contributions pls

Please what grade of palmoil is suitable for supplying pharmaceutical companies? Freshly milled or second grade?

Theoooo:
Are you in need of 25 litres empty kegs and jerry can in large quantity look no further pls call 08181018073

How much and wats ur location?

What is the current price now?

iHart:
I think location also matters. I suspect Palm oil season don't start at the same time around the country. In my own side it starts April and peak in June. And I also suspect that the variety of palm tree also contributes to when the season start. In my area we have mostly the local type that grows very tall, not the "agric". You are right about the issue of water but the processing method also has a hand in the level of water. There are people who don't go the extra mile to boil out the water after pressing.

Anyway, I am not into palm oil business. I buy it as a raw material.

Yes .I agree with you.In my own side,oil bought in April can't be stored and it's always expensive compare to to late April till end of May.

#6000 now in my own side, Isuikwuato Abia. But you must be ready to hustle for it if you must buy at #6000

iHart:
#6000 now in my own side, Isuikwuato Abia. But you must be ready to hustle for it if you must buy at #6000

Ok thanks for your response. @donparosky what about yours?

popoolaRofiat:



Yes .I agree with you.In my own side,oil bought in April can't be stored and it's always expensive compare to to late April till end of May.

Do you mind telling us the location you have made reference to?

Looking to buy. Where can I get 20 kegs at good price.