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Rice Farming Is Lucrative: How to Start and Make Over 500K a Month(2018)

[dropcap]R[/dropcap]ice farming is straightforward and requires not much expertise, anyone can cultivate and harvest rice, irrespective of your experience and background in rice business.

on the other hand, Benue State is acclaimed as the nation’s “food basket” because of its rich and diverse agricultural production. The state is blessed with fertile soil that produces a wide range of vegetables, fruits and pasture for livestock.Hence rice production is a lot easier for anybody that will want to give it a try.

It is also gathered recently, that Benue State government has release N166 million as counterpart fund to the International Fund for Agricultural Development-Value Chain Development Programme, IFAD-VCDP, to boost activities of rice and cassava small-holders farmers.

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Rice is a very high yield crop, one Acre of rice farm is capable of producing over 100 bags of rice. Below are some of the things you need to make it happen –

(a) A very good swampy, less acidic land

rice farming on swampy land

(b) High yield verity of rice species

How To Start Rice Farming Business In Nigeria Or Africa (Step By Step)

The healthier your seeds are, the greater your chances are of ensuring the highest possible yield is achieved.

You should choose an improved variety and select the right seeds based on the cultivation environment. Do not plant seeds in an indiscriminate manner and go for only the best variety seeds. You need to choose the seeds manually for a good rice production.

 

(c) The right fertilizer and proper application

(d) Good weed control at the proper time

(e) And early planting…

Put these in place and you’re in for a hit in rice business!

Rice Farming Business In Nigeria is very lucrative as Rice is the world’s second most important cereal crop after maize, based on the volume of production. According to data gathered by statistic, about 480.3 million tonnes of rice is produced yearly, with China leading the pack with a yearly production rate of 206.51 million tonnes of rice produced in the country.

You simply can not doubt the usefulness of rice in most countries around the world. Now, if you are willing to go into it, here are the step by step how to cultivate and harvest your rice produce. Feel free to ask a question or add anything you think is missing by making a comment below:

Read : Lucrative Business You can Dio in Benue That Requires only Internet Connection

1. Select Healthy Seeds

The healthier the seeds, the higher it will produce. Look for the improved verity and do the seed selection, don’t just plant the seeds indiscriminately, discriminate among the seeds and go for the best. Good rice production practice requires that you manually select the seeds. Lack of seed selection is one major reason local farmers produce very little.

If you select the best of rice seeds, your harvest would be well worth the time and energy invested in selecting the seeds. But if you neglect this! Well, good luck for you gamble.

2. Raise the Seedlings in A Nursery

Prepare the seedbed and plant the seed there first to grow in a nursery. Solarize The Soil if you can – Soil solarization simply is the method of heating the soil by covering it with transparent polythene sheet in other to control soil-borne diseases. Because many soilborne pathogens and nematodes attack transplanted rice leaving it with low yield.

It has also been shown that Rice yield always increases by about 36% by using solarization technique to raise the seedlings. Again, transplanted rice matures to harvest faster than non transplanted. After two to three weeks, your seedling will be ready for transplant.

3. Look For A Swampy Land

Swampy land saves you the capital and stress of irrigation. Although rice can be planted in both upland dry condition and lowland swamp and irrigated, it has been shown that rice produces more on lowland swamp or irrigated soil. So, go for swampy land. Get the land prepared by clearing and using Tractors to properly till the soil surface in readiness for the actual transplanting of your rice seedling.

4. Manage Weeds And Soil Nutrients

After two months of transplanting, the rice farms would be due for weed control, then it will be time to moderately apply herbicide to kill off the weeds. Some people apply Herbicide twice before harvest. Fertilizer is applied in about a month after the transplant. Use the right type of fertilizer (Organic fertilizer) and apply by spraying within the plant field with the right quantity.

5. Harvest Your Crop

Within the 4months of planting, your crop will be ready for harvest. When matured, the color of the rice will change from green to light brown. Then, you know your crop is ready for harvest.

You’d need to move in and harvest your crop very fast to avoid it being eaten up by pests as so many animals feed on the rice seed. Please, you’ll need to learn a lot about the pest control.

Whatever effort and money you put into the farm, be assured that within five months you’ll be smiling to the bank

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3 money making Business Opportunities for Rice Farming  

1). Source Of Food:

How To Start Rice Farming Business In BenueRice is undoubtedly the most consumed staple meal in the world. It is also the oldest known food that is consumed worldwide. This extraordinary demand for the cash crop makes it highly lucrative for any farmer in Nigeria, Africa, or around the world to venture into, especially as it is also one of the most lucrative farming businesses in Nigeria.

 

 

2). Production Of Beer/Liquor:

rice wineLiquor, an alcoholic drink, especially distilled spirit, can be made from rice. The liquor that’s processed from rice is widely called Rice Wine, and it can be made at home or in a processing facility from the fermentation of rice starch that has been converted to sugar. It is widely consumed in Asia and has an average alcohol content of 18% to 25%.

 

3). Production Of Rice Flour:

rice flour businessRice flour is made from grounding the raw rice. It can be purchased in flour form or ground using a blender, grain mills or some traditional pounding techniques. It is usually used as a gluten-free alternative to wheat. Some products that are made from rice flour are rice flour cake, rice noodles, and edible rice paper.

 

 

Investment in Rice Farming Business in Nigeria

You know this area has huge potential when the richest man in Africa, Aliko  Dangote, states that he plans to invest $1 billion in modern integrated rice mills and commercial rice farming in Nigeria. He has already acquired about 150,000 hectares of farming land in five of the states of Nigeria.

On a large scale, if you invest around $14 million in Nigeria today on an integrated rice mill, there will be 42 – 50% internal rate of return on your investment. You will need exactly a couple of years to return this investment amount.

As a wholesaler or distributor, you can obtain a bag of rice for ₦8,000 – ₦10,100 or possibly at a lower rate from your suppliers. A 110-pound (50 kg) bag of rice sells for any between ₦10,000 to ₦12,000 in Nigeria today. If you supply 50 rice bags in a single day at this rate, you will make a profit of 4000 X 50 = ₦200,000. Due to the instability of market price, the price can be higher or lower at any time.

Harvest Your Crop

Within 4 months of the plantation, 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 prepared for harvest.

Goodluck with it…..

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Written by pajon

Hello Every one,
My Name is Paul Ajonye AKA “PAJON” Academically am an Industrial Physicist (A Die Hard Tech Lover) , I Have an undying love for wealth creation and success, most importantly solution driven with the infinite passion to see people grow their businesses online/offline this is Exactly how I found myself become a Pro-Business Development Strategist (Tech approach) I have proficiency in the following areas; Sales & Marketing strategy for small business, Lead creation, Digital Marketing and Hospitality solutions (with over Six years Proven Practical Experience) that works.

I went into blogging in a quest to solve problems, provide useful information and show my proficiency to the world at large.

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