Castor Oil And Its Economic Benefits-Other Source Of Income For Nigerians

It is an acceptable fact that agriculture is one of the sectors that aids growth of any country. From cash crop to food crop, agriculture has played major roles in creation of jobs, from farm sites passing through processing and to end users either on table for food or for other industrial use. As we can see, Nigeria has good climatic condition to cultivate virtually any type of cash or food crop.

One of example of this products is castor oil. You may not be familiar to this crop but it has high economic benefits farther than its name.

From research, castor oil is used by pharmaceutical companies, textiles industries, rubber industries. Looking at the present economic situation of Nigeria, it calls for urgent attention on capacity building for local production before export.

Castor oil plant is a tall annual tree of shrubby broad leaves. CASTOR has been proven to be a genuine source of oil for multiple industrial uses. Castor oil and its derivatives are used in a wide range of sectors for producing high quality lubricants; in the paper industry; agriculture; pharmaceuticals; rubber industry; textiles and many more.

Due to Castor oil and its products’ biodegradability, renewable nature and eco-friendliness, there has been a continuous increase in their demand on the international market.

USES OF CASTOR OIL

  • The by-product of Castor oil extraction, which is castor meal and cake, are used as organic fertilizer.
  • It is used for textile chemicals and dyeing aids.
  • It is used in the production of the basic ingredient for nylon production (sebacic acid)  and other synthetic resins and fibres.
  • Initiates hair growth, when mixed with coconut or almond oil.
  • Also in perfumery products.
  • Used in polymers for electronics and communications.
  • And much more.

Cultivation, Processing and Marketing of Castor beans and oil can be done successfully in Nigeria.

If cultivation of castor seed is not done simply because of its industrial use, I know demand for castor oil in confectioneries industries and hair growth cannot be met even if thousands of graduate go into its cultivation, do you know number of jobs he will create for extractors and the like?

As at today, one ton of Castor beans sells for #300,000.00, while one liter of Castor oil is sold for #3000.00, do you know number of castor oil seed you can get from a ton? Do you know number of plot, acres, hectare that can give you profitable result?

In my next article,I will do justice to exportable products that can be started with as low as 100,000 Naira only.

If you need additional details on planting, marketing and preparing visibility studies for castor oil? Bluescripts has all it takes to give you needed guy on economic plant. Do contact us below:

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Mr. Afolabi

Whats up-08130473576

 

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