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How to Make Millions Producing Garri in Commercial Quantity

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By Darlinton Omeh

Garri production is a very big business that is churning out millions of Naira for those doing just the ways it should be done.

The investors with the right machinery are making real money producing this essential commodity in some great quantity to serve the market that is far from being saturated as the demands of it continues to increase.

It is a viable business because it is one of the most widely consumed food in Africa and beyond. As the population of Africa continues to grow along with its economy, likewise the demands of staple foods like garri continue to match up with it.

In Nigeria today, there are both big and small scale garri producers that are making fortunes with the business and are living the comfortable lives of their choice. They are not looking at the business as anything that could dwindle any time soon because the rate of interests in larger quantity production of it is not threatened at all.

So in this post, we will be providing you some step by step guides on how you too could have your share of the millions that are already being made by those into the business.

We have to do this because with the right kind of knowledge on how to produce garri in greater quantities, a serious investor stands the chance of raking in millions and could exceed his greatest imaginations base on is possible with garri business.

Starting A Garri Production Business

To start with, Garri is a product of cassava which thrives in African soil due to good tropical climate. Even when other farm produce fails, cassava is very sure to live up to expectations in bringing good harvest to the farmers.

There are so many ways to convert the produce of cassava into different foods in Africa which garri happens to be the most among the list and its accepted throughout Nigeria as a common food for all. Put simple, garri is a common man’s food.

Sometimes and no matter how intense the economy is or how hard other food commodities may be to obtain in the market, the common question from caring relatives or others are usually, ‘Hope you are eating garri or ebba?’as its otherwise called. Just to show you how sure and affordable garri is.

Garri is very common and that has affected its prices for a long time now and making it to be stable. At least, close to 80 percent of cassava produce are processed into garri just to show you how high the demands of garri is around within the country not to talk of having it exported to other countries which those who met the stringent exports requirements are doing.

You may not have to concern yourself over that because you can still make it big producing and selling it locally and even contact those exporting it to be buying from you if are sure of enough quantities and best processed products.

If you have interest in garri production, here are some tips to guide you into making it a reality as you are sure to have your millions to show for it.

For any serious entrepreneur to go into garri production, he may have to invest in cassava production which in its own is a profitable farming in Nigeria.

But if you are sure of having a steady supply of cheap and fresh cassava tubers, then you can still make it without your own farm.

Another important thing to keep in mind is that cassava is a perishable item and if left for a long time it may get spoiled and that would affect your end product; because of that, always have the time frame in mind whenever you are placing order for a fresh supply or going to the market to buy yourself.

You also need to understand that there are varieties available in the markets and so make yours to be in line with what is preferred locally and in various demands too in case you have different markets with different taste traditions in mind.

For instance, if you taste a Yoruba made garri and Igbo version, you are bound to notice some major and minor differences just like you would of a Togo and Ghana garri.

The guideline is to know what appeals to your market, if not one may end up with the right product in the wrong market.

In Nigeria, one may have the options of producing garri with varying methods and have it taken to the market for sale but among these various methods of productions, manually produced garri usually last longer than quickly made ones which contains moisture and starts getting bad as soon as it’s bagged, but the downside of this methods of production is that it doesn’t pass the international standards and are not fit for exportation.

If you want garri to last for months without any form of degenerating, then take time to prepare yours by making sure that there is no moisture contents in the finished products which can be achieved using machine production.

Instead of just going the markets and buying finished products for sale which may not meet the preferred standards, if one could spare the time and effort in having it produced properly even if it costs higher, you will be assured of having regular buyers that prefers good and well processed garri for distribution to markets of interest.

For those that could afford it, investing in cassava processing machinery could go a long way in having quality end products in market and that gives the person peace of mind while selling it because those who are dealing with quickly processed ones are usually in a hurry to have theirs sold off before it begins to spoil in their hands, but if you are known to be having good quality of well processed garri in the market, that has the capabilities of positioning you well even before the exporters to the foreign markets.

Since every other things are going technological, garri processing is not left behind. Before now and still, there are those who are still using the old and crude methods of processing garri, which many say is economical, but in terms of hygiene, it scores zero.

There are now some machines in the Western parts of Nigeria which takes up the process of cassava tubers on the arrival at the plant and have them turned into hygienically ready to eat end product of garri.

One stands better chances of having this done perfectly, if one is into the farming himself, which is not all that hard as explained here.

Go for this modern tech in garri productions as it is sure to take off manual labour and give you the best of what you want. Garri production is a serious discussion on the internet and offline because people are just waking up to the realities of what are achievable with good production of well processed garri in the market.

Farming has been discovered to be the number one investment that many people can be in and still not be able to satisfy the market demands. Garri is such that no matter how much you are able produce it, once it’s of some high qualities of internationally acceptably standards, you are sure to be shaken hands with full time exporters that are into millions themselves and which you would become by having business dealing with them.

https://www.wealthresult.com/manufacturing/how-to-produce-garri-in-commercial-quantity-and-make-million

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

Five Price Decliners Weaken OTC Securities Exchange by 1.72%

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NASD OTC securities exchange

By Adedapo Adesanya

Five securities pulled down the NASD Over-the-Counter (OTC) Securities Exchange by 1.72 per cent on Friday, August 14, cutting the market capitalisation by N47.04 billion to N2.689 trillion from N2.727 trillion, and slicing the NASD Security Index (NSI) by 78.37 points to 4,465.83 from 4,532.03 points.

11 Plc led the price decliners yesterday after its price went down by N15.03 to N230.00 per share from N245.03 per share. MRS Oil Plc weakened by N13.20 to N118.80 per unit from N132.00 per unit, Central Securities Clearing System (CSCS) Plc slid by N10.30 to N99.46 per share from N109.76 per share, Okitipupa Plc fell by N6.99 to N270.01 per unit from N277.00 per unit, and Afriland Properties Plc dipped by N2.00 to N20.00 per share from N22.00 per share.

Business Post reports that the OTC securities exchange recorded four gainers during the session, led by FrieslandCampina Wamco Nigeria Plc, which appreciated by N9.85 to N169.85 per unit from N160.00 per unit. IPWA Plc gained 70 Kobo to close at N10.41 per share versus N9.71 per share, Industrial and General Insurance (IGI) Plc rose by 4 Kobo to 54 Kobo per unit from 50 Kobo per unit, and Geo-Fluids Plc improved by 1 Kobo to N2.06 per share from N2.05 per share.

The volume of trades soared by 64.8 per cent to 3.2 million units from the previous session’s 1.9 million units, the value of transactions jumped by 78.2 per cent to N375.7 million from N210.8 million, and the number of deals surged by 35.3 per cent to 46 deals from 34 deals.

Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 79.0 million units exchanged for N5.7 billion.

GNI Plc also closed the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.

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Economy

Bears Pullback Local Stock Market by 0.12% as Investors Lose N257bn

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Local Stock Market

By Dipo Olowookere

The dominance of the bears on the Nigerian Exchange (NGX) Limited was consolidated on Friday, after further inflicting an 0.12 per cent loss at the close of trading activity.

All the key sectors of the local stock market turned red yesterday as a result of sustained profit-taking, though the industrial goods space was flat.

The insurance counter lost 1.49 per cent, the energy index shed 0.63 per cent, the consumer goods segment declined by 0.46 per cent, and the banking sector tumbled by 0.23 per cent.

Consequently, the All-Share Index (ASI) retreated by 398.18 points to 242,619.20 points from 243,017.38 points, and the market capitalisation receded by N257 billion to N156.624 trillion from N156.881 trillion.

Fortis Global Insurance lost 9.31 per cent to trade at N2.63, Omatek depreciated by 9.04 per cent to N1.51, John Holt slipped by 9.00 per cent to N9.10, RT Briscoe slumped by 7.94 per cent to N11.60, and Dangote Sugar went down by 7.79 per cent to N64.55.

But International Energy Insurance gained 9.92 per cent to sell for N5.32, Trans-Nationwide Express appreciated by 9.65 per cent to N2.84, Guinea Insurance improved by 6.67 per cent to 80 Kobo, Regency Alliance grew by 6.25 per cent to 85 Kobo, and Japaul jumped by 5.36 per cent to N2.95.

The market breadth index remained negative, with 30 price losers and 21 price gainers, indicating weak investor sentiment.

The level of activity contracted yesterday, with the trading volume, value, and number of deals down by 66.67 per cent, 10.65 per cent, and 5.60 per cent, respectively.

This was because market participants transacted 1.4 billion shares worth N45.3 billion in 39,134 deals during the session compared with the 4.2 billion shares valued at n50.7 billion traded in 41,454 deals on Thursday.

Fortis Global Insurance was the most active equity for the day, with a turnover of 874.1 million units valued at N2.4 billion, Cornerstone Insurance sold 100.3 million units worth N506.5 million, Universal Insurance traded 56.7 million units for N44.5 million, Sterling Holdings exchanged 53.3 million units worth N402.9 million, and MTN Nigeria transacted 44.6 million units valued at N31.4 billion.

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Economy

Naira Stable at N1,357/$1 at Official Market, N1,395/$1 at Black Market

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Naira-Dollar exchange rate gap

By Adedapo Adesanya

The Naira maintained stability against the United States Dollar in the different segments of the foreign exchange (FX) market on Friday, August 14, according to data obtained by Business Post.

At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency remained unchanged at N1,357.65/$1, but lost N6.05 against the Pound Sterling to trade at N1,840.10 versus the previous session’s N1,834.05/£1, and depreciated against the Euro by N4.70 to sell for N1,571.70/€1 compared with the preceding day’s N1,567.00/€1.

At the black market, the Nigerian currency traded flat against the Dollar at N1,395/$1, but gained N3 at the GTBank forex desk to quote at N1,364/$1 versus Thursday’s exchange rate of N1,367/$1.

Data from the Central Bank of Nigeria (CBN) showed that interbank FX transactions surged by 51.2 per cent to $119.594 million from $79.097 million. These transactions were executed in 137 deals, higher than the 98 deals recorded a day earlier.

FX inflows from exporters, remittances and other sources, alongside demand from importers and individuals requiring Dollars, continue to shape market conditions.

Meanwhile, the cryptocurrency market recovered yesterday after experiencing a downturn in the previous sessions following reports that index provider MSCI has proposed new “non-operating company” screens for its Global Investable Market Indexes. Although the framework does not explicitly target cryptocurrency, it evaluates whether a company’s core operating assets constitute more than 50 per cent of its total holdings.

Heavy digital asset treasury adopters, including Strategy and Metaplanet, fail the proposed criteria and face potential removal during upcoming index rebalancings. While inclusion in major equity benchmarks previously allowed passive index funds and ETFs to automatically acquire these stocks, their removal could trigger forced institutional selling.

Dogecoin (DOGE) grew by 0.7 per cent to $0.07, Binance Coin (BNB) expanded by 0.6 per cent to $611.34, Ethereum (ETH) added 0.4 per cent to trade at $1,879.65, and Bitcoin (BTC) increased by 0.2 per cent to $63,045.87, with Ripple (XRP), the US Dollar Tether (USDT), and the US Dollar Coin (USDC) flat at $1.00, respectively.

But Cardano (ADA) lost 1.2 per cent to trade at $0.1795, TRON (TRX) shed 0.4 per cent to finish at $0.3323, and Solana (SOL) declined by 0.2 per cent to $75.60.

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