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SOYA BEAN EXPORT IN NIGERIA; THE OPPORTUNITIES.
Nigeria presently produces about 500,000 MT of Soya bean annually making it the largest producer of the product on the African continent. Soybean is a legume which is produced in most the middle belt of the country with Benue state accounting for about 45% of the total production in country.
Soya beans are an important source of high quality and inexpensive protein and oil. With an average protein content of 40% and oil content of 20%, soybean has the highest protein content of all food crops and is second only to groundnut in terms of oil content amongst food legumes. Soybeans are used in the production of milk, edible oil and animal feed. It’s high protein content and price makes it the best option in terms of treating malnutrition and would continue to expand the international market for the product which currently is estimated at US$40 billion.
Nigeria currently produces soybean worth $85 million in the international market and though most of the nation’s soybean is consumed locally where they are used in the production of soymilk and specially formulated foods to help malnourished infants and children, the international market for the product is growing and sustainable.
In Nigeria, soya beans is mostly produced in the middle belt with benue state accounting for over 70% of the production in Nigeria. Some of the states producing soya beans in Nigeria include Kwara, Kogi, Oyo, Ondo, Osun, Nassarawa, Kaduna, Niger, Bauchi, Ogun, and Taraba states. Other states are Adamawa, Abia, Enugu, Anambra, Jigawa, Lagos, Plateau, Ekiti and the Federal Capital Territory.
The process of export would begin with the exporter purchasing a feasibility study on the export of the product, sending samples of the product of light-brown variety found in Nigeria and then securing of the contract. We also expected that the exporter would have registered with Corporate Affairs Commission and Nigeria Export Promotion Council.
The product could be packaged in 50 Kg or 100 KG depending on the agreement with the buyer.
The successful implementation of this project begins with the purchase of our detailed business plan to ascertain the actual cost/benefit status of the project. Company registration with Corporate Affairs Commission and Nigeria Export Promotion Council is also required.
The return on investment on the export of raw cashew nuts is estimated between 10%- 15%.
To continue reading this article and other investment opportunities in Nigeria, please do click on the link below
SOYA BEAN EXPORT IN NIGERIA; THE OPPORTUNITIES.
Click on the link below to know more about this offer.
Can
you supply soya beans from Nigeria and you are seeking for export
contract? Then use our business process outsourcing service. Contact us
with the details given below with the subject line as SOYA BEANS EXPORT
IN NIGERIA: SOYA BEANS EXPORT CONTRACT.
At
Foraminifera Market Research {www.foramfera.com}, we provide bespoke
and up to date market research reports for beginners and exporters
already in the commodity export market.
Our
reports are designed to assist start-ups to understand the legal and
financial requirements of starting the business, the market trends
vis-a-vis demand and supply, competition, risk identification and
mitigation strategies.
You can order our detailed feasibility report on the export of soya beans in Nigeria by clicking on the link below.
Report Title: SOYA BEANS EXPORT IN NIGERIA
Report Code: FORA/08/2011/049
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