A lot of Nigerian exporters are investing in large scale plantation of different agricultural product, making over 900% returns on their investment.
If you’re new in the import exporting business, a list of things to sell can come in handy. You want to know what products are selling, what research say about these products. This would guide you into making investment decision. So the following are products you can start exporting in Nigeria to other countries:
Exporting Cassava is a huge investment opportunity. Cassava is in high demand both in the domestic and international market. Domestic demand for composite flour makes cassava a hot prospect. Reports suggest production hasn’t been able to match demands. On the external market, major importers are EU nations, China, Japan, South Korea and the United States. The EU alone imported about 6.9 Million tones in 2000.
The inclusion of ethanol in petrol and the high cost of crude oil may divert more cassava products to ethanol production.
Here are some facts to keep in mind:
- According to report, Nigeria is the largest producer in the world
- Africa’s domestic markets and intra sub Saharan Africa markets makes $8.9 billion/year
- Cassava provides a Large domestic import substitution market
- Domestic markets are very lucrative, experts say it has a ROI of 50% -100% more with alternative global markets
Did you know Nigeria imports over 1.5 million metric tons per annum? Reports say rice consumption outstrips production and ln West Africa consumption, consumption is reported to double every 9 years. . Rice is a hot cake product that sells globally. Ofada, Nerica 8, Faro 44; these are various types of Rice you can grow and sell in the local and external market.
According to research, Increasing Global demand is being driven by:
- Ethanol production
- Food Grade alcohol production
- Animal Feed industry
Nigeria is the largest sorghum producer in West Africa, accounting for about 71% of the total regional sorghum output; As well as the third largest world producer after the United States and India. Sorghum is highly concentrated in the Northern region of Nigeria. Major buyers are from the Europe who uses them for the production of Animal Feed, Countries like China. USA. Brazil buy and grow them for ethanol.
- Nigeria imports about 1.5 million metric tons per annum
- Growing utilization for Ethanol
- About 800,000hectare of land available for sugar cane cultivation
Sugar cane is largely cultivated in the Northern part of Nigeria for consumption, and what you should know is that sugar cane has wide usefulness; they are majorly used worldwide as sweetener and preservatives, and also in the cosmetics industry. Experts say sugar cane makes 70% of the world sugar. A growing need for sustainable alternative to petrol has led to the increase in demand for sugar whose derivatives can be used to produce ethanol (bioethanol) for the production of biofuel- Largely used in countries like USA and Brazil