Leveraging Export Opportunities In Cane-weaving Materials

The production and export of cane weaving materials is a thriving industry that has gained significant attention due to the increasing demand for eco-friendly products.

Cane, which is derived from the stem of bamboo plants, is a versatile material that can be woven into various shapes and sizes to create beautiful and functional products, such as; baskets, mats, chairs, and even home decor items.

The process of cane weaving involves harvesting the cane stems, processing them to remove any unwanted parts, and then weaving them together using traditional techniques passed down through generations.

The finished products are not only aesthetically pleasing but also durable and long-lasting. With the rise in popularity of sustainable living practices globally, there has been a growing interest in using natural materials such as cane for everyday use.

As a result, the demand for cane weaving materials has increased significantly in recent years, making it a profitable business venture for many countries that have access to this resource. Exporting these materials provides an opportunity for local communities to generate income while showcasing their unique craftsmanship on a global scale.

A report put out by Statista reveals that between 2011 and 2020, Nigeria exported cane and bamboo in the amount of nearly $293 million, which was the highest export value compared to the other West African countries. This shows that Nigeria has all it takes to become a big exporter of rattan products not only in Africa but the world at large, thereby earning more foreign exchange.

Speaking with a former vice president of the National Cane Weavers Association, who has been in the cane weaving business for over 40 years, Gabriel Oghenevwede, he said, there is huge potential in the cane weaving business.

Business Capital

He claimed that, there is a sizable market for cane-weaving goods in the country, adding that, “hotels, restaurants, the government, and foreigners all use the product. Given these factors, it is clear that there is ample opportunity for entrepreneurs to enter this industry. However, it should be noted that start-up costs can vary considerably depending on one’s particular approach and level of investment; generally speaking, these expenses may range from N500,000 or more.”

Similarly, one of the executives at the National Cane Chair Association of Nigeria said that, apart from local customers, foreigners do come to buy these products, and on such occasions, “we make more money, sometimes even selling in hard currency. Once your finishing is good, you will surely go places, as the market is wide and nobody in the business would ever say he is running at a loss.”

Profitability

LEADERSHIP WEEKEND findings revealed that, one can make several millions of Naira annually, even as the peak of the business is usually during Yuletide.

Sourcing Materials

The major material used in this business, according to him, is the cane itself, which is sourced from riverine regions of Nigeria’s south-south, southeast, and southwest.

Law

In order to begin the process of exporting cane weaving materials, there are certain steps that must be taken. One of the most important things is ensuring that your business is properly registered with the appropriate governing bodies. This means registering with both the Corporate Affairs Commission (CAC) and the Nigeria Export Promotion Council (NEPC). NEPC plays a critical role in regulating and promoting international trade, and failure to comply with their requirements can result in serious consequences for your business.