Starting a rice farming or rice production business in nigeria is one of the top lucrative businesses to start in the nigeria right now. Apart from the fact that rice is one of the most consumed food stuff in nigeria, some latest government policies has made sure that if you venture into producing rice in nigeria, there’s no way you wont meet an already rice demanding market to sell your productrice farming business in nigeria
rice farming business in nigeria
The latest Federal government ban on rice importation to nigeria has also made rice very scarce, and there by causing the price of a bag of rice to sour high.
So if your thinking about going into rice farming business in nigeria, this might just be the new gold mine to make some cool cash. For those who don’t really know much about rice production, continue reading as we have written a well detail guild about rice farming business and rice production in nigeria.
Rice farming might actually not be as complicated as one might think, rice farming does not required much technical know how.
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Regardless of you previous knowledge,any body can start and run a very profitable rice farm as long as he or she has the basic knowledge and start up capital which i must say isn’t that too big too.
One good thing about rice production is the very short maturity period, it take a very short time frame of about 4 months for rice to mature, making it viable for people to take short term loan for it. Least I forget, rice farming when practiced well is a very high yield crop capable of producing 100 bags from just 1 acre of land.
At this point, i know you are already thinking of the mega buck you will be making from the rice farming business, well cool down and lets take it one step at a time. Feel free to ask me any question as we explore the prospect of starring a profitable rice farming business in nigeria.
How to Start a Rice Farm/ Rice Production business in Nigeria
⇒ Choose healthy rice seeds
There are several varieties of rice seed that you might plant. but one thing you have to consider is their adaption to the environment. you can check out the nearest agro product market in your area to find out which rice seed strive mostly in that state . keep an eye for the following trait when selecting the rice seeds
Selecting good quality seed will help by:
1. Improve yield by 5 – 20%
2. Improve germination by more than 80%
3. Increase resistance to disease and pest attacks
4. Produce consistent plant size
5. Decrease weed problems
⇒ Rice Seedlings in a Nursery
Rice farmers must give adequate attention to the nursery stage of the rice seed. Cover the soil with a transparent polythene sheet so that the land maintains its temperature whilst avoiding soil borne diseases. Your yield can be significantly decreased if transplanted rice is attacked by nematodes and other soil borne pathogenic diseases.
Selecting of Land
the rice land itself is the most essential capital asset for small scale rice farming business in Nigeria, the capacity and worth tends to vary on the basis of the drainage facilities, type of soil and location. Rice is generally the crop of a small farmer and the average holding size is around 6 acres. You need a large space to set yield and make more profit from your rice production business in nigeria
Rice Maturity Period and Harvesting
One good thing about rice farming is that it has a fairly short maturity period.Within 4 months of planting the rice seed,you will have your crop prepared for harvest. When the rice is matured, its color will change to light brown from green. You will then know that your crop is ready for harvesting
⇒ Cost Of Setting Up A Rice Farm
The cost capital need to set up and run a profitable rice farming business in nigeria tends to vary based on its nature. To start up a commercial rice farm, you will obviously need sufficient amount of land, buy rice seed and other equipment which will cost money. Also Rice milling generally demands adequate workforce, equipment and machinery. Retailing and dealership of rice requires the lowest amount of capital investment. For a rice business, the initial expenses consist of supplies, basic equipment, delivery, packaging, transportation, operating costs and various other outlays.
As per sourcing for Capital to start a profitable rice farm, you can seek for loan from any bank
How Profitable Is Farm Production business in Nigeria. the profit margin depends on the initial start up capital.
The bigger your start up capital investment, the bigger your profit margin will be. If you start with huge capital, the returns on investment will be bigger, and faster due to having more efficient and effective machinery, storage and processes that can help you take advantage of opportunities, and high demand