Palm Kernel Export Business
Palm Kernel Export Business in Nigeria: Nigeria is richly endowed with palm oil, from where palm kernel is produced
And Nigerians can make fortunes out of palm kernel business specifically, from exporting the products from Nigeria.
Therefore, starting palm kernel exportation in Nigeria is one of the profitable businesses ever.
And the reason is obvious. What is the reason?
The reason is that, palm kernel is worth so much in the international market than what is obtained here in Nigeria, and palm kernel export business offers unlimited opportunities in exportation business in Nigeria.
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You can actually make money by selling your palm kernel locally, but the truth remains that much money can be made in palm kernel export business by selling the products to other countries of the world.
And there, palm kernel has a larger value than here. This fact has well demonstrated why palm kernel exportation remains one of the most profitable businesses in this part of the world.
If you are there and you want to start palm kernel export business here in Nigeria, I will encourage you to go ahead because palm kernel export business is a good business decision any Nigerian can make.
In this article however, I will be explaining step by step approach of engaging in palm kernel export business in Nigeria, below are some of the steps you can apply to go into palm kernel export business in Nigeria.
Palm Kernel Export Business in Nigeria
Steps to exporting palm kernel from Nigeria:
- Understand the global marker/other requirement:
The export market is quite different from the one you trade within your border.
That is why it is mandatory to learn about the business and the market otherwise, you can fail, so knowledge here is very vital, and you need that experience.
Therefore, there is need to go for the relevant knowledge about palm kernel export business, learn about everything involved in the business before you launch out.
And much of what you will learn will include; licensing requirements, product sourcing, as well as port procedure, and note that you will be working with unfamiliar individuals, the foreign agents, and if you can find profitable international market, then you will be better off.
To gather the relevant knowledge about palm kernel export business, you have to source for an experienced palm kernel exporter, who has been in the business of palm kernel exportation over some decades.
Ask him to tell you in detail what it takes to run a successful palm kernel export business in Nigeria.
- How will you source for your product?
Having all the relevant knowledge at your finger tips, the next step would be how you will be sourcing for palm kernel in Nigeria.
You will also have to decide whether you will be producing palm kernel yourself or be buying from those who produced the products.
Nevertheless, in as much you are into exportation business, the likelihood is that you will be getting your product from both the manufacturers and the wholesaler.
However, once you began your palm kernel export business in Nigeria, I will suggest that you buy your products from other manufacturers until you are able to raise some money to set up a palm kernel factory.
If this is where you are pitching your tent, I will advise that you look for consistent supplier and/or manufacturer that will provide you palm kernel every time there is demand.
- Get your license:
You business needs a name hence, someone operating an international business need to get his business registered from the relevant authorities.
Would you wish to have top notch in your palm kernel export business, then you will get your business name registered with the Corporate Affairs Commission (CAC), and legalize it.
Of course, that is important, but part of registering your business will increase your business’ integrity, and at this point, you will be issued a license to operate your business in Nigeria.
- Locate your clients:
Today, we are living in information age; and technology has now become the order of the day, in terms of business transactions.
With online or internet, as acknowledged by some fellow, you are going to be on top of the game, and your business is going to be easier.
This is one of the merits of modern technology, you can in the comfort of your home with internet get some customers to patronize your business, even in the comfort of your home, you can negotiate a business deal, and as well close the deal.
You can achieve this by participating in trade websites, and become a full life member, as you sealed business deal with concerned customers.
- Showcase your products:
Showcasing your product is quite necessary to get the people to know your product.
Many will be interested for palm kernel, particularly for industrial purposes.
As your business grows with time, you will be exhibiting and show case your business during international trade fairs, and the advantage is that it creates awareness about your export product.
In trade fairs as such, there are opportunities of meeting new potential customers, where you can close profitable palm kernel business deals.
- Financing:
Please, I will suggest you take this aspect of financing you palm kernel export business, it is very important.
While planning to go into palm kernel export business, there are some considerations that you should take as important.
Having dealt with some of these considerations in this article, another thing is to delve into another very important issue, which is the issue of funding your palm kernel export business.
It is just unfortunate that, one of the challenges with many Nigerians’ exporters is the issue of funding, and we are all aware that the cost of going into palm kernel exportation is much higher than what many Nigerians can afford.
Whichever way, you can always source for fund to finance your business either through loan or donations from friends, family members, etc.
- Prepare for challenge:
In palm kernel exportation business, there is always this challenge that you should know and be prepared for, as well as stargazing means to come out of it.
The challenges may be lack of adequate information, problem of funding and to locate a foreign agent, lack of planning for extra cost, risk of dealing with finance among others.
If you apply these facts you will succeed in your palm kernel export business in Nigeria.