Business Plans And Feasibility Study On Rice Production
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Rice Growing is not as hard as you think it
Firstly, put and soak your Rice seedlings in water for about 36 hours and
Secondly, allow the Rice seedlings to try for another 24 hours.
Thirdly, mix 6 inches of soil and compost and put them in a bucket
Put in about 4 liters of water to cover the soil.
spread the seeds in the bucket and place in a warm sunny area.
Check Periodically and add more water to maintain a constant depth as the plants grow.
Finally, transfer to the field
Intuitively, our business plan focuses on using improved varieties and modern way to cultivate rice on a commercial level.
Rice is one of the most staple foods consumed in Nigeria, whether you are wealthy and the poor. And the profit margin is very high.
As Rice gain more Value Chains, so is the demand for Rice. In the contest of population increases, the demand for rice also increase. Most rice consumed in our nations are imported, Why not take advantage of this golden opportunity and invest in Rice farming.
It will interest you to know that Nigeria is the largest producer of rice in West Africa and the third in Africa. Other countries that produce Rice in Large quantity are the Egypt and Madagascar, producing about 3 million metric tons. This is on the average annually basis. Rice production falls short in meeting its local demand, left alone importing out. using Nigeria as a practical example; she produces about 5 million tons and spends about 1 billion Naira on rice importation daily. This will amount to about 365 billion Naira annually to meet the high demand.
Rice can be cultivated anywhere in Nigeria as long as there’s sufficient water and well-prepared soil. Rice cultivation is dependent variety.
Presently, the area of land used for rice cultivation is about 2.5 million hectares in Nigeria. And Maturity is just 4 months.
State in Nigeria with the highest local production of rice are; Sokoto, Ogun, Ebonyi, Enugu, Anambra, Niger, Kogi and among others.
There are different varieties of rice grown in Nigeria, some are; upland rice, lowland rice and fadama rice. Culturing or growing of Rice is dependent on your Farm geographical area.
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Similarly, it shows how much it will cost you to own your desired business, what your money can afford. The kinds of product you will need to minimize input in other to maximize output. Likewise, how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. Lastly, this will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. However, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.
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