CASTOR FARMING BUSINESS IN NIGERIA

The castor farming business in Nigeria can be a lucrative and profitable venture to start-up, due to its vast market demand and on your own ability to build a wide supply chain network. If you’re looking for a farming business to venture into, the castor farming business in Nigeria is a great option to explore.

Nigeria imports over N30 billion worth of castor oil every year despite having arable and fertile land, and climatic conditions suitable for its farming. It is crystal clear that only very few Nigerians are taking advantage of the present opportunities in the different agriculture value chains.

Numerous opportunities abound in castor farming, as a potential farmer or investor can make up to N50 million on 10 hectares of land over a period of seven years due to its more than 1000 uses and over 80 health benefits, which is why it is regarded as miracle seed. The oil extract from the plant is one of its most economically valuable aspects that companies around the world cannot do without on daily basis.

Because of its unlimited industrial applications, castor oil enjoys tremendous demand worldwide. The current consumption of castor oil and its derivatives in the domestic market is estimated at about 300,000 tonnes.

How To Start Castor Farming

1). Land Preparation:

Clear the land of all weeds, bushes tree stumps and any other substance that could hamper the growth of the castor plants

2). Planting:

Choose healthy mature seeds from a parent plant, to be sown on the farmland, about 7cm deep and a spacing of approximately 1m, for proper growth of the plants

3). Fertilization And Irrigation:

For best growth and produce the use of organic fertilizer should be applied, these include compost or animal dung; industrial fertilizer can also serve. In a case of steady rainfall, this would be good for the crops, but in a situation whereby this is absent, proper irrigation comes into play. Water should be made available until 2-4 weeks before