Post by Ismail AbdulAzeez on Dec 27, 2020 16:02:38 GMT 1
All You Need To Know To Start A Profitable Shrimp & Prawn Export Business Right Here In Nigeria
This guide is meant to introduce you to the lucrative business of Shrimp and prawn export right here in Nigeria.
Most Nigerians have at one time or the other eaten shrimp and prawns before. Shrimps are marine crustaceans that are found at the bottom of the seas mainly. They do not have backbones, instead they have exoskeletons. It is known as the shell of the shrimp in local parlance. A Shrimp according to the dictionary is a small free-swimming crustacean with a body, typically marine and frequently of commercial importance as food.
Shrimps are usually cultivated and harvested as a source of food and recipe for many delicacies around the world.
On the other hand, a prawn is a marine crustacean that resembles a large Shrimp, many varieties of which are available. Shrimps are tasty and delicious, and are consumed all over the world. The global demand is increasing at a high rate. Shrimp farmers have consistently failed to meet even up to 50% (fifty per cent) of world demand.
The reason for this failure is that most of the Shrimps in the world market come from wild oceans. Shrimps contain high proteins and vitamins leading to high demand by the population that understands it. Sometimes people classify it as food for the rich only because of the cost. Therefore, getting into this business is going to be interesting and lucrative.
China and Thailand are the world’s highest producers of Shrimps. The world needs about 4.75 million metric tons of shrimps to satisfy the hungry market. China and Thailand account for over 75% of the world's Shrimp production.
What are we doing in this country complaining about the lack of that? Nature has given us so many commodities in abundance, what is wrong with us? The Niger Delta Region thinks that God gave them only oil, but they don’t know that something more than oil is in their backyard. Shrimps and Prawns are the gold of the modern era.
Nigeria currently produces about 12, 000 metric tonnes of Shrimps yearly. The country has a coastline of about 853 kilometers and so many mangroves in the Niger Delta alone that can be utilized without destroying them when they engage in coastline Shrimp production.
Many people do not know that Shrimps and Prawns used to be Nigeria’s third largest agricultural commodity for export. But production has been drastically reduced due to the chase of crude oil production in the Niger Delta.
One of the most globally demanded agricultural commodities which we have in this country in abundance are Shrimps and Prawns. Buyers all over the world are demanding for frozen Shrimps and Prawns. The quality of Shrimps and Prawns in the country is the highest you can get anywhere in the world, we have them in abundance.
Buyers are always coming into the country to meet with sellers to discuss with the commodity sellers and commodity companies to sign relevant contracts for the exportation of the commodity.
So what exactly is the export of frozen shrimps and prawns about? This is the export of frozen shrimps and prawns from our country Nigeria to the international buyers in various parts of the world.
Please you must have noticed that we have been using the word “Frozen” to describe the business as the product must be in a frozen state before being exported. It is exported in a semi-processed state; the buyer will now have to finish the processing into the state he wants according to the need.
This is an export business that if you follow the simple rules we will discuss here, you can never lose money. The products are bought at cheap rates here and exported at very good margins. The minimum profit margin I have seen in this business is 50% return on investment.
We will continue with the export procedures proper in the continuation of the article.