How to Export Palm Oil from Nigeria

Filed in Business Idea by on March 28, 2022 4 Comments

How to Export Palm Oil from Nigeria: Nigeria is richly endowed with palm oil.

And Nigerians can make fortunes out of the palm oil business specifically, by exporting the products from Nigeria.

Therefore, starting palm oil exportation in Nigeria is one of the most profitable businesses ever.

And the reason is obvious. What is the reason?

The reason is that, palm oil is worth so much in the international market than what is obtained here in Nigeria.

How to Export Palm Oil from Nigeria:

And palm oil business offers unlimited opportunities in exportation business in Nigeria.

You can actually make money in selling your palm oil locally.

But the truth remains that you can make much money in palm oil business.

By selling the products to other countries of the world.

And there, palm oil has a larger value than here.

This fact has well demonstrated why palm oil exportation remains one of the most profitable businesses in this part of the world.

How to Export Palm Oil from Nigeria:

If you are there and you want to start palm oil exportation business here in Nigeria.

I will encourage you to go ahead because palm oil exportation 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 oil exportation business from Nigeria.

Below are some of the steps you can apply to go into palm oil exportation business in Nigeria.

 how-to-export-palm-oil-from-nigeria

https://www.nairaland.com guide-exporting-palm-oil-palm

Read also: Top 20 Business That Gives Money In Nigeria

Steps to exporting palm oil from Nigeria:

  • Understand the international marker:

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 oil exportation 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 oil exportation business you have to source for an experienced palm oil exporter who has been in the business of palm oil exportation over some decades. Ask him to tell you in detail what it takes to run a successful palm oil exportation business from Nigeria.

See also: 11 Steps to Start A Business In Nigeria

  • Know about how you will be sourcing for the product:

Having all the relevant knowledge at your finger tips, the next step would be how you will be sourcing for palm oil in Nigeria. You will also have to decide whether you will be producing palm oil yourself or be buying from those who produced the products, nevertheless, in as much as you are into exportation business; the likelihood is that you will be getting your product from both the manufacturers of the palm oil or buy the product from other wholesalers.  However, in the beginning of your exportation business, I will suggest that you buy from other manufacturers before you raise some money to set up a palm oil manufacturing company. If this is where you are pitching your tent, I will advise that you look for consistent supplier and/or manufacturer that will be providing you palm oil in out of season and in the season.

See also: 23 Tips to Start Cupcake Production business in Nigeria

  • Get your business registered:

You business needs a name hence, someone operating an international business need to get his business register from the relevant authorities. Would you wish to have top notch in your palm oil exportation business, then you will get your business register 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.

  • Who are your buyers; locate them:

Today, we are living in information age; technology has now become the order of the day, in terms of business transactions. With online or internet, as acknowledged by some fellows, 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.

Read also: How to Start Palm Oil Investment in Nigeria

  • Display your products:

Displaying your product is quite necessary to get the people to know your product; many will be interested for palm oil, not just for consumption purposes but for industrial purposes. As you business grow over time, you will be exhibiting and show case your business during international trade fairs, and the advantage is that it creates an awareness about your export product. In trade fairs as such, there are opportunities of meeting new potential customers, where you can close profitable palm oil business deal.

See also: How to Start Beans Farming Business in Nigeria

  • Financing your palm oil export business:

Please, I will suggest you take this aspect of financing you palm oil export business, it is very important. While planning to go into palm oil 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 oil export business. It is just unfortunate that, one of the challenges many Nigerians’ exporters are facing is the issue of funding, and we are all aware that the cost of going into palm oil 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.

  • Knowing your export business challenge ahead of time:

In palm oil 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 include; lack of adequate information, little or no fund to start your exporting business, issues of not being able to locate a foreign agent, lack of planning for extra cost, risk of dealing with finance, etc. I will suggest that you apply these facts and you will succeed in palm export business.

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Comments (4)

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  1. Nwachukwu NICHOLAS says:

    Thanks, I really appreciate.

  2. Nwachukwu NICHOLAS says:

    Very useful

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