Thinking About The Palm Tree
Thinking About The Palm Tree – Igwenazor Chinaemerem
The Palm tree needs no introduction to many. It is a cash crop that has sustained generations in the Eastern region of Nigeria and the economic tree behind economy of Malaysia. It is common in any hamlet there is and every family can boast of a good number of it. When I look at the Palm tree, two things comes to my mind – the Red Palm Oil and Palm wine. It is a fact everything from the Palm tree serves a great need, it has also appeared on many logo across the globe.
I came across a story that Malaysia journeyed to the Eastern Nigeria decades ago to learn about the economic magic of the Palm tree consequently returning home with some. It is also on record that the colossial success of the defunct Eastern Region of Nigeria economy has a good portion of her expenditure financed from the proceeds of the Palm tree. If the facts are real that the Palm produce played a vital role in the economy of the defunct Eastern Region of Nigeria and presently working out wonders in the Malaysian economy, then we need to watch this tree with vested interest.
In Nigeria today, two companies are making waves dealing solely on cultivation and processing of the Palm tree – Presco and Okomu Oil. With hybrid Palm seedlings that starts fruiting in 18 months, bearing at least 24 bunches yearly, a Terena specie of the dwarf family, it is easier to set up a mega Palm plantation and in few calendar months running, you would have been profiting from its yield. The good thing is that this special specie is available to those who make demand of it.
It is mind blowing to confidently say that a liter of the Red Palm Oil commands a higher price compared to that of petrol and diesel. Also, it has an all year round constant demand both for household use and that of industrial. Till date, the Red Palm Oil has no alternative in many Nigerian dishes. This is a pointer to the bumper lucrative nature of the Palm tree. Suggestions are rife that a commercial investment on this tree is a step in the right direct with its accruing income bigger than that of crude oil.
Earlier. I made mention of two products that comes from the Palm tree – the Red Palm Oil and the ever soothing Palm wine. Its true that each of the two are demanded and consumed just like that, on the other hand they are pure raw materials that could be refined into other products. For the Palm wine, it is not even available to meet its demand especially during festive periods. Owing to innumerable diseases, many heavy drinkers are turning to nature and the Palm wine is one of the most sort after drinks. For the Red Palm Oil, when refined so many by products off it are raw materials regularly demanded by Pharmaceticals, Cosmetics industry, Neutraceuticals/Confectioneries, Biofeul/energy, Animal feed et al.
Off the information above, investing in growing the Palm tree and producing Red Palm Oil for the sole purpose of mere cooking is the least you can get from the Palm tree. Opting for the full commercialization of a plantation and consequently refining the Red Palm Oil is where the money spinning large scale business is. This route involves a lot of chain of activities boasting economic activities and creating a mega wealth.
One can confidently say that investing in a Palm plantation with such a hybrid specie that can yield 24 bunches annually is an idea worth going after with all resourcefulness. Not only is it a money spinner, you are dealing on an item with an infinite elastic demand. It is also a rock solid investment you can transfer to the nest generation. Join me in thinking about the Palm tree.