The business of farming is very lucrative and there are many industries. An investor needs to determine their preference, top agricultural business ideas are catfish farming, maize farming, cassava farming. Others are snail farming, rice farming, pig and honey production.
Top 8 most profitable agricultural businesses to consider
Top profitable agricultural businesses to start are Rice farming, Poultry farming, Cassava farming and Maize production. Others are Pig farming, Catfish, Snail farming and Honey production.
Top agricultural businesses
Rice farming
Poultry farming
Cassava farming
Maize production
Pig farming
Catfish farming
Snail farming
Honey production
8 most profitable agricultural businesses
1. Rice farming
Rice farming is one of the 8 most profitable agricultural businesses. In West Africa rice is a staple food eaten everyday. The demand out ways the supply providing smart businessmen to earn huge profit.
In Nigeria the government have invested heavy in providing an enabling environment for local producers to succeed. They encourage farmers through tax relief, establishment of rice mills, land.
To invest in rice production you need large land suitable for growing rice. Make sure you have good seedlings, fertilizer, ideal weather conditions.
Establishing close to a processing and packing company is a good advantage.
2. Poultry farming
Poultry farming is among the 8 most profitable agricultural businesses. Poultry farming is challenging and requires huge investment. Challenges include purchase of good stock, huge cost of feeding, disease and sanitary control.
Farmers earn huge returns on their investment with a huge market base. A farmer needs to determine the type of poultry farming. There are three sectors to consider, meat ,eggs or Chicks production. Eggs and meat production are the most popular poultry farming. Other not so common types of poultry include ostrich farming, quail, duck, pigeon farming.
3. Cassava farming
Cassava is another popular crop in West Africa. The plant is rugged, easy to grow and adaptable to different soul conditions. There are different types of cassava product like cassava flour, cassava cake and many cassava based products.
4. Pig farming
Pigs are an important source of protein for many household. Although the meat is not as popular as beef it is a lucrative industry.
To start a piggery you need a few starter stock, good equipment and feeding. Major costs are vet care, farm maintenance and feeding.
5. Maize farming
The beauty of maze farming is the huge number of products derived from maze. The crop is in high demand which is encouraging for farmers.
Maize is easy to grow and a hardy plant. A farmer needs a large parcel of land and good grain. It is important to protect the crop from predation especially birds.
6. Catfish farming
Catfish farming is now a popular business venture. This is because the business is practicable in urban regions. All you need is a water source, pond, fingerlings and pellet feed.
All the farmer needs to do is change the water everyday, feed once a day. In today’s market prices 31/8/2021 a kilogram of catfish sells for $2 ( N 1000 )
7. Snail farming
It takes about a year for snail to reach market size. Focus on the large species of snail for good returns. Snail farming depends on starter stock, prevention of escape of the animal, and feeding.
Snail is regarded as a delicacy and attracts premium price. Feeding is easy because the snail eat a variety of food from vegetables to fruits.
Honey production
Honey production is very challenging and requires specialized equipment. Honey is produced by honeybees and done in remote areas. This is because the bees forage for food in the morning and return in the evening.
