Advancing Palm Kernel Business in Nigeria through Effective Marketing

Abstract

Many Entrepreneurs just delve into business in the name of starting a business without first finding out the best production methodology for increase output and the various ways that the product and its bye products can be disposed for more profit. Palm kernel is a money spinning venture. The process involve in palm oil extraction from the palm fruit is still crude. Marketing starts with product idea generation. The research therefore is aimed at finding out the best palm kernel separation method that will give the highest production volume. This will eventually help the organization meet market demand that will lead to the desired sales volume/profit. Three palm kernel separation methods were carried out using 25 kg of palm kernel for each. Time taken for these operations was taken. Thorough put was calculated. The result obtained was that mechanical cracking machine with pneumatic separation has a faster operation time and higher output than two other separation methods. This study discovered about fourteen (14) potential business areas for investors and entrepreneurs in palm kernel ventures. A graph of annual palm kernel availability and price fluctuation was developed. The recommendations emanating from the analysis are: (1) Investors, entrepreneurs and processors are advised to go for mechanical cracking and pneumatic separation machine for efficiency and effectiveness (2) Buy palm kernel nut by April, May and June then sell off their stored palm kernel nut to make profit by September to October, and (3) Should reevaluate their investment on palm kernel business against the coming year by December.