Groundnut Oil Production Factory Business Plan
Groundnut Oil Production Factory Business Plan for loan, grant or for investors. Are you planning to invest in cooking oil making business? Are you interested in starting a groundnut oil manufacturing plant or factory in Nigeria? Here is an article about groundnut oil production in Nigeria and how to start it. Also, we are here to help you write a winning one for your clients. Contact Us today on +2348036925718 for faster response.
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In recent years, the Nigerian economy has a manufacturing industry which is developed in a limited level. As well as the oil sector and the agricultural sector, which are still largely traditional. In the Nigerian economy, the petroleum sector accounts for over 85% of federal government revenues, more than 90% of export revenues and 40% of GDP. However, agriculture maintains its weight in the economy. The agricultural sector, which accounts for 50% of employment, constitutes 33% of GDP.
Start Groundnut Oil Manufacturing Business in Nigeria
It is a good opportunity for the businessmen to invest in Nigeria.
Considering that groundnuts are widely produced in Nigeria and almost all of the population uses the byproducts of groundnut, it seems to be profitable to build and operate groundnut oil processing machines.
Small Vegetable Oil Production Line for Self-employed Entrepreneurs
First of all, you will need to be registered in NAFDAC (National Agency for Food & Drug Administration & Control). This is a prerequisite to start a business in this sector. Also, You can help from us. After establishing your business plan with a good feasibility, you are set to start up.
Equipment Required To Build Your Groundnut Oil Manufacturing Business
Firstly, the equipment required to build your groundnut oil manufacturing business can be supplied from the local market at affordable prices. As much as purchasing these machines, it’s easy to mount and use them. In short, with the help of three-four pieces of equipment such as a cooking kettle in the size you need depending on the amount in your production plans, a boiler, filter press, and an oil expeller you can start producing peanuts with equipment.
Small Peanut / Groundnut Oil Plant Project Report
Similarly, this is a small scale edible oil processing plant which includes oilseeds cleaning, crushing, oil pressing and crude oil refining machine. Furthermore, we have written for so many clients in several Country.
The initial capital cost for a mini groundnut oil mill is around $7000, while the price of small to medium sized groundnut oil processing facility ranges from $40,000 to $100,000 in Nigeria. Likewise, this amount will cover the necessary land, construction costs, and equipment. Nevertheless, if you have the intention of going into a business in the field of agriculture in a foreign country, you can seriously consider investing in producing groundnut oil in Nigeria.
Groundnut Production Market in Nigeria
The following table shows the groundnut oil producers around the world. As we can see, Nigeria is the fourth producer of groundnut oil, and its production also keeps raising in recent years.
|Rank||Country (Year of Estimate: 2018)||Groundnut Oil Production (1000 MT)|
|6||Tanzania, United Republic Of||133|
It should be noted that it is a country with great potential with its natural resources. In the late 1970s President Olusegun Obasanjo, who introduced the national food production program, tried to attract attention to the development of agriculture after coming to power in 1999. In addition, the government recently stated that it would liberalize land ownership, where, according to existing laws, the lands belong to the state.
Groundnut Cultivated Area in Nigeria
Small-scale subsistence farmers are dominant in the sector, and as far as their needs are concerned, production and employment opportunities are established in Nigeria. Together with this, there are some large commercial farms in Nigeria. They usually produce sesame, palm oil and rubber for export purposes as well as the groundnut oil.
Largest Groundnut Producer
Furthermore, the country is the largest groundnut producer of the continent and the fourth in the world. Also, Nigeria produces around 1.5 million metric tons of groundnut yearly and derives its oil, which is an extremely nutritious product. In Nigeria’s lands, you can produce 5 metric tons of groundnuts per hectare. From one ton of groundnut, you can derive 500 liters of oil. The price of the oil depends on the currency and the season, however, a liter of oil is close to 1$ in Nigeria.
Facts of Peanut Cultivation
Similarly, Peanuts require soil in a well-drained structure. At the same time, the soil must be acidic in order for the plant to reach a pH of about 6-7. At the same time, they need about 5 months of moderate weather and a year of rainfall or equivalent in the range of 500 – 1000 mm per square meter. Also, Soil temperature required for germination is about 30AC. Usually in the rainy season, that is, in late March planting is done. Seeds should be placed at a depth of 5 to 6 cm, 75 cm between the rows and 25 cm between the rows should be space.
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Similarly, it shows how much it will cost you to own your desired business, what your money can afford. The kinds of product you will need to minimize input in other to maximize output. Likewise, how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. Lastly, this will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. However, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.
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