How lucrative is cassava processing business in Nigeria?
For this question, it depends on your final products. Cassava can be processed into cassava chips, cassava flour, cassava starch, garri, etc.. But their investment and protitable are different. Cassava starch processing requires most investment because cassava starch processing machine is the most expensive and it requires more plant area and other investment, but it can bring most profit.
Take garri as an example, we can analysis how lucrative is cassava processing business in Nigeria.
We Doing Company can process 3 tons of cassava into 1 ton garri, so if we produce 1 ton cassava, we can make profit as follows: Name Quantity Unit price Total Cassava 3ton $69.33 $208 Electric cost 30kw $0.08 per kw $2.4 Water cost 40ton 0.08 per ton $3.2 Coal consumption 0.15ton $112 per ton $16.8 Manpower 10 $3 per people/day $30 Others $10 Total $260.4 Sale price $553 / 1 ton Net profit $293 / 1ton Note: above data just for reference, the cost is subject to local conditions. One ton of garri can packaging into 20 bags, one package wholesale price is $27.67-$30.43, the market price is $35.97-$38.73, assuming a wholesale price of $553, get the net profit is $293. Usually garri is white after production, you also can futher process white garri into egba garri, yellow garri, koko garri, etc., to get higher profit. Garri packed as 500kg per bag, and at least you can sale 40 bags(2 ton) in one week, that's to say, just one week, the profit you get at leaset are $586 (N211,802.5).
It's worth to say that garri is the staple food of Nigeria and many other cassava-growing countries in Africa. In Nigeria alone, it is almost 150 million. So only the local market in Nigeria has great potential and can consume any tons of garri you produce. If you want to know more about how lucrative is cassava processing business in Nigeria or want to buy cassava processing machine. Please contact DOING.
Whatsapp: +86 135 2661 5783 Email:sales@doinggroup.com http://www.cassavaprocessing.com http://www.cassavaprocessingplant.com