Soy Milk Production in Nigeria; The Feasibility Report.

Published - 28 Feb, 2019| Analyst - Foraminifera Market Research Limited| Code - fora/2019/ompsylkroi/677

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Soy bean (Glycine Max) is classified as an oilseed rather than a pulse. It is a species of legume native to East Asia (China) and still remains a major crop there till today. Prior to its use for fermented food products, soybean was considered sacred for use in crop rotation as a method of fixing nitrogen. The bean on dry weight basis is 29% oil, 40% protein, 35% carbohydrate and about 5% ash. Its protein is heat stable, thus allowing it to withstand high temperature during cooking.

Though production and utilization of soy bean started in the Orient as far back as the 11th Century, this ancient crop became grown in other parts of the world just in the 20th Century. It was first introduced in Europe in the 1700s and in America in 1804 (Katz, 1998).

It was introduced to Africa from China in the late 19th Century and is now widespread across the continent including Nigeria. The earliest known cultivation of soy beans in Africa was in 1896, when they were grown in Algeria, at a government botanical station and later in 1903, when they were grown in South Africa. From 1908, there has being a dramatic and tremendous increasing interest in growing Soybeans in Africa, as Europe for the first time began import large quantities of Soybeans in response to severe shortages and prices of oil.

By 1982, Soybeans and Soy foods, though still played a very minor role in Africa have been identified as having great potentials in arresting the declining per capital food production as well as protein and calorie consumption in the Continent including Nigeria.

Soy bean was introduced into Nigeria in 1908; it was first planted in Ibadan, Oyo State. Initially the crop was cultivated for export with the support and encouragement of Groundnut Board. Nigeria presently produces about 500,000 MT of Soybean annually making it the largest producer of the product on the African continent. Soybean is a legume which is produced in most the middle belt of the country with Benue state accounting for about 45% of the total production in country.

Soya Beans is a leguminous crop whose importance and economic benefits cannot be over emphasized. Products that can be gotten from Soya Bean include Soy Cake, Soy oil, Full Fat Soya, Soy meal, soy meal, soy flour, soy milk, tofu, textured vegetable protein amongst other things.

The major emphasis of this study is the commercial production of soy milk. Soy milk is a high protein, iron-rich milky liquid produced from pressing ground, cooked soybeans. Creamy white soy milk resembles cow’s milk but in fact differs from its dairy counterpart in a number of ways. Not only is it higher in protein and iron content, but it is cholesterol-free, low fat, and low sodium. It is, however, lower in calcium and must be fortified with calcium when given to growing children. Those who are allergic to cow’s milk or are unable to digest lactose, the natural sugar found in cow’s milk, find soy milk easy to digest since it is lactose-free.

The demand for the product is quite enormous and very high in Nigeria. The raw material (Soya beans) is also readily available. The production technology is simple and the equipment’s are locally fabricated.

The proposed production volume is one (1) tons/day at one hundred percent (100%) capacity utilization and the plant would operate at ninety percent (90%) of the installed capacity for a single shift of eight (8) hours per day for three hundred (300) working days per annum and producing 180,000 cartons of 500 cl glass bottle of twelve pieces of soy milk per annum. Input-output ratio of 1Kg: 4L was assumed from soya bean to soy milk.

Table of Contents

EXECUTIVE SUMMARY 1.0 Business Overview 1.1 Description of the Business 1.2 Vision and Mission Statement 1.3 Business Objective 1.4 Value Proposition 1.5 Critical Success Factor of the Business 1.6 Current Status of Business 1.7 Description of the Business Industry 1.8 Contribution to Local and National Economy 2. Marketing Plan 2.1 Description of product 2.2 Product Packaging and delivery 2.3 The Opportunity 2.4 Pricing Strategy 2.5 Target Market 2.6 Distribution and Delivery Strategy 2.7 Promotional Strategy 2.8 Competition 3. Production Plan 3.1 Description of the Location 3.2 Raw Materials 3.3 Production Equipment 3.4 Production Process 3.5 Production Cost 3.6 Stock Control Process 3.7 Pre-Operating activities and expenses 3.7.1 Operating Activities and Expenses 3.8 Project Implementation Schedule 4.0 Organizational and Management Plan 4.1 Ownership of the business 4.2 Profile of the promoters 4.3 Key Management Staff 4.3.2 Management Support Units 4.4 Details of salary schedule 5. Financial Plan 5.1 Financial Assumption 5.2 Start Up Capital Estimation 5.3 Source of Capital 5.4 Security of Loan 5.5 Loan Repayment Plan 5.6 Profit and Loss Analysis 5.7 Cash flow Analysis 5.8 Viability Analysis 6.0 Business Risk and mitigation factor 6.1 Business Risks 6.2 SWOT Analysis

Project Specification:

Plant Capacity: One (1) ton per day
Capacity Utilization: Ninety percent (90%)
Loan Tenor: Twenty-four (24) months
Interest Rate: Twenty-five percent (25%)
Moratorium: Two (2) months

Additional Info

Report Type: feasibility report
Formats of Delivery:
No. of Pages: MS Word - 30 pages and Excel - 6 pages
Report Code: fora/2019/ompsylkroi/677
Publisher: Foraminifera Market Research Limited
Price: ₦30,000
Release Date: 28 Feb, 2019 Updated quarterly.
Language: English
Delivery time: Within twenty-four (24) hours.

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