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Bitter Kola Export In Nigeria; The Feasibility Report.

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Bitter Kola Export In Nigeria; The Feasibility Report.

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Export exists mainly in order to “transfer” commodities and services from areas of surplus to areas where they are lacking. There is no doubt that Nigeria has a comparative over other nations with regards to the export of agricultural produce because over 70% of the nation’s landmass is arable.

One of such commodity that can be found in abundance especially in rural communities in Nigeria is kola nuts.

Product Description

Kola is a product of the kola tree. It is one of the country’s cash crops and has a socio-economic significance in the Nigeria society.

Nigeria is a principal producer of kola nuts producing about 150,000 tons annually of which over 90 % are locally consumed.

Kola is usually in two varieties namely bitter kola and kola nuts. Though the focus of this manual is on bitter kola export, It is important to note that the kola nuts variety can be further sub-divided into Gworo and Igbo Oji. While gworo is mostly consumed in the Northern part of the country, Igbo oji is mostly consumed in the Eastern part of the country and they play a very significant role in the custom and tradition of the people of the Eastern region.

Kola trees are natives of central and West Africa and are distinguished primarily by the medicinal and stimulant properties of their nuts, barks and leaves.

Bitter {Garcinia} Kola is one of the varieties of kola that can be found in the Nigeria which are mostly found in the southern parts of the country and some of their uses are stated below.

  1. They are used in the preparation of drugs in the pharmaceutical industry.
  2. They are used in the production of cola soft drinks.
  3. They are used in the production of energy drinks

The product is usually available in the market between March to November of the year.

In Nigeria, bitter kola can be sourced from the southern part of the country. Nigeria is one of the highest producers of bitter Kola in Nigeria.

Though about 90% of the current production of 150,000 MT is being consumed locally in the country, Bitter Kola {Garcinia} is in great demand in Britain, America, China, India and other Asian countries. It is used for food purposes apart from serving as raw materials in the pharmaceutical and food industry in the preparation of drugs, soft cola and energy drinks.

These growth and demand for bitter kola is being sustained by the growing demand for traditional medical therapy and energy drink industry.

It is pertinent to also say at this stage that the business of gallstone export has been going on for quite some time throughout the world, although only very few people know about this lucrative business in Nigeria. The market is large, expanding and sustainable as the price keeps increasing throughout the world. Those few Nigerians that are aware of it have made their cool millions doing the business.

The product can be sourced mostly from southern part of the country in the following states in Ondo, Enugu, Osun, Oyo, Imo, Ogun etc. The selling price is usually N 200 per KG.

Bitter Kola can be traded on a large or small scale. On a large scale, the order would be in tonnage and usually packaged in containers while for the small scale operations, the order is usually in kilograms and through courier companies like EMS, FEDEX, UPS, DHL and TNT.

Bitter Kola is also one of the products that can be exported to United States of America through the African Growth and Opportunity Act {AGOA}.

 

 

Table of Contents

1.  Introduction
1.1 Executive Summary
1.2 Business Opportunity
1.3 Country Background

2. Technical Analysis
2.1 The Project
2.2 Product Description
2.3 Product Location and Distribution
2.4 Legal Considerations
2.4.1 Pre-Export Documentations in Nigeria
2.4.2 Post-Export Documentations (Exchange Control Documents)

3. Opportunity

3.1 Market Overview
3.2 Demand and Supply
3.3 Customer Profile
3.4 Primary Competition
3.5 Competitive Advantage

4. Managing Contract Negotiations and Export Operations

5. Socio- Economic and SWOT Analysis of the Project
5.1.1 Generation of Employment
5.1.2 Source of Government Revenue
5.1.3 Foreign Exchange Generation
5.1.4 Technological Transfer
5.1.5 Increase in Gross Domestic Product (GDP)
5.2 SWOT Analysis

6. Risk Identification and Mitigation Strategy
6.2 Critical Success Factor

7. Financial Analysis

Report Details

Report Type: Feasibility Report
Formats of Delivery: EXCEL / MS WORD
No. of Pages: 21 Pages
Report Code: FORA/2016/BITTERKOLAEXPORT/9955321321
Publisher: Foraminifera Market Research
Release Date: 25/06/2016; We update our reports quarterly.
Language: English
Delivery time: 24– 48hours

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