Making Extra Income From Palm Oil Storage Business

Palm oil storage is another way to make extra money outside your other sources of income.
Since Palm oil is edible product, mostly used in cooking by everyone, investing in Palm Oil will be an encouraging venture. Palm oil is needed in cooking as well as a bye product in manufacturing outfits for soap and other things.

Since Palm Oil is in high demand following the increase in number of hotels and eatries, Palm Oil is used for preparation of food.

However, Palm Oil Storage is an aspect of , Palm Oil business.

Palm Tree begins to produce three or four years after it has been planted and it needs proper wielding of the field against wields from over shadowing the plants. Palm Tree can stay 30 years.
With the rising of the price of Palm oil worldwide, investing in oil storage can equally allows one go into palm oil export.

Speaking with me , Mr Asuquo Anefiong, who is into the business,charged interested investor to always target certain period to store Palm oil against period of scarcity when Palm oil will not be much in circulation.

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“Palm Oil is usually surplus from December to April and it the price often sell highest around July to September.
According to him, an investor who invest N300, 000 can make up to N500,000 within four months.

He advised investors to be prepared to spend time and money because Palm Oil is a more labour-intensive which needs much hands.

The ideal storage conditions for palm oil involve keeping it in a cool and dark place, away from ovens, refrigerators, or freezers.

Another respondent, Mrs Alice Ojiekputa, an Edo State oil merchant based in Ikeja market advised interested investor to study the kind of storage facilities to adopt for use to ensure long lasting period for the oil.
Ojiekputa advised investor to have starting and working capital and also have enough storage space for the oil.