How To Be Financially Successful From Hoarding Agricultural Products.

Hoarding is a business strategy that has to do with buying and hiding of a product in anticipation of rise in price of such product. Such products are re-sold when the price of such commodity rises. Many business men has made millions of cash from hoarding. Ability to understand the trend of a business is the key attribute needed to be successful in hoarding and re-selling of a product. While Some goods are non perishable, others are highly perishable. Thus, Hoarders must have a good knowledge of preserving the goods in question.

Our major focus in this discussion is on how to hoard and preserve agricultural products. The knowledge of the harvesting period of agricultural products is another key to success in this discussion.

Did you know you can make millions in a year from hoarding foods? Yes, you can! Some of the foods you can easily hoard and re-resell for big prices include:

1. Maize.

Maize is produced in large quantity in the north. Easy to preserve with insecticides or dry peppers. First, let’s understand the period when the product is cheap during the year. Many agricultural products are cheap during harvest time. Inquire when farmers are harvesting a crop before venting into hoarding such crop. For maize, the period when you can get it cheap in the north ranges from August to December. It is said to be very cheap during that period in the northern part of Nigeria while the price goes up from February to another harvesting period. This is to tell you that in few months you stand a chance of making millions from buying and keeping maize in a safe store for just few months.

2. Yam

Yam can be very cheap during harvest in yam producing states. The price of yam depends on the specie and the size. During harvest, a tuber of yam could go for just 200 naira or bellow depending on the size and area. You can sell this same size for about 500 to 800 naira when harvest is over, especially the period of planting to a new harvest period. Considering this analysis, making at least 300 naira gain per tuber you hoarded is going to be a mouth watering business. Let’s say you hoard just a thousand (1,000) tubers of yam and you make 300 naira each. This means you just made 300,000 naira in just few months. The best way to preserve yam in a short period of time is to burry them under a tree or hang them in a cool and ventilated place. The hanging is not a normal way of hanging things. It means to be tied one by one then suspend them vertically by tying the edge of the string you used in tying them on a wall or any oject. The best place to get yam cheap is Benue, Nasarawa and Niger stste.

3.Groundnut

In Nigeria, the best time to hoard groundnut is from July to October. During this period, the product is rilatively cheap in price but rises from February to June. You are expected to dry before bagging groundnuts. The place of storing groundnut must be free of moisture. moderate room temperature is required to avoid germinating.

4. Beans.

Beans has different species but they are all harvested almost the same time. You can also get beans very cheap When farmers are harvesting. In hoarding beans, you must apply a safe insecticide or mixed with plenty quantity of pepper to prevent infestation of weevils. The safest way to preserve beans is the use of pepper.

5. Palm oil.

Palm oil is another agricultural product that you can make good money from. To every thing on earth, there is a time. This phenomenon does not exempt the harvest of palm fruit. Palm oil is said to be very cheap When palm fruits are riping. During this period, farmers produces the oil from the fruits and sell them cheap. The season of the year when you can get red oil cheap is from November down to April depending on the area. Middle belt, South East, south-south and West have the highest oil production rate in Nigeria. The importance of hoarding red oil is that it can last for three years and still be useful.

Summary: the best time to hoard agricultural product is during harvest. The best place to buy such goods from is the farmer.

Please share your thought with us on the comment section.

(Image source: google)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s