February 16, 2009
This website is a simple commercial undertaking offering a range of Nigerian Foods to expatriates in the United States.
The company is clearly an e-commerce company which has built a management team of Nigerians who are able to drive both the food product and the sourcing issues of the company.
As many of these foods are common to other West African countries the market is surely wider than Nigerians in the US. Then there is also an opportunity to apply the business model to other National Foods and set up stores for other groups.
The company is NY based and prices need to be judged by those who know the foods not me. As examples yam roots sell for $2.30 / lb, garri around $1 / lb, dried shrimp $12 / lb and palm oil $25 / gall.
September 21, 2008
In an interview with green2tech
from: Earth2Tech (click image for full story online)
Jeff Broin of ethanol producer Poet said the following
8). In the great debate over how much corn ethanol is affecting food prices, what do you think about some newer reports that have said biofuels have affected food prices significantly?
Every study depends on the assumptions of its author, and the opponents of renewable fuels have been able to generate a few that say what they want. Almost every independent study I’ve seen has said that ethanol production has had a very small impact on the consumer’s price for food, especially in comparison to the impact of rising energy prices.
A study from the Agricultural and Food Policy Center at Texas A&M said, “The underlying force driving changes in the agricultural industry, along with the economy as a whole, is overall higher energy costs, evidenced by $100 per barrel oil.” Just do the math. A semi can haul 4,200 boxes of corn flakes at a time, and with 10 ounces of corn in each box, that’s a total of 46.9 bushels of corn. At a $6 bushel, the corn in all 4,200 boxes has a value of $281.40. To haul those boxes 1,500 miles, however, would cost $881.25 with diesel priced at $4.70 per gallon. That means it takes 21 cents of diesel per box to get it to the store, yet the value of corn in that box is less than seven cents. What do you think is the real driver of higher food prices?
But this study surely has nothing to say about biofuels not pushing up the price of food? In fact what would the fuel cost have been if the truck was run on biodiesel?
Its also flawed in that the calculation is for $100 crude & $ 4.70 / gallon diesel – even at $50 crude and the corresponding diesel price of $ 2.86 / gallon (extrapolated from GasBuddy data) the diesel cost is still 13 cents. This is a of food retail and consumer demands not fuel costs!
from: GasBuddy (click image for full story online)
Lets not even start calculating the packaging cost and the wholesale and retail margins!