Rice farming business is one of the lucrative business anyone can do. With the dwindling oil prices, the focus has been shift entirely to agriculture as the solution to growing the economy.
Want to start a rice farming business? Is starting a rice farm worth it? Then read to get all the answer. That’s why am bringing in the detailed ways of how to start a rice farming business and it’s viability.
Rice been a tropical and subtropical plant requires a fairly high temperature ranging from 20 to 400 degrees.
Commercial rice farming requires modern rice farming techniques to make it a profitable agribusiness. Even though rice farmers are enormous, but the demand is high and the supply is not enough.
One major factor that makes rice farming so viable and environmentally friendly is because from start to finish it takes about 4 to 5 months.
Why start a rice farming business
Why should someone venture into rice farming business? Below are some of the reasons that will amaze you.
The demand will continue on a high
Rice is a staple food. It’s consumed by virtually every household irrespective of their status in the society. Even in restaurants, hotels, and food hawkers, to provide daily delicacies like jollof rice, fried rice and so on.
The rise is the major stable food provided in occasions because it’s the food that is known and many eat. Making the demand for rice continue to be high.
Again, there are more people starting rice milling companies. Such companies will buy rice directly from buyers which are there major source raw material.
Rice is not like other crops that need 6 to 1 year to mature and ready for harvest. Rice grows between 4 to 5 months. With improving variety, the rice will grow even quickly than you think.
rice farming is among the crop that provides one of the high yields. When you employ good farming activities and plant the best rice seeds on the right soil, your yield will surprise you. With an acre of land, you should be expecting about 100 bags.
You can do it even if you’re not an expert
Starting a rice farming business can be done by anyone who is serious and has passion without any formal education about the rice farming.
But it’s important to research and get the knowledge that will help you in starting the rice farming business.
In other words, the rice farming business is pretty strength forward, needing to apply minor techniques to start and run the business.
High return on investment
With the best farming practices, you should expect a high return on investment from your rice farming business.
There will always be market
There will always be a market for your rice. Irrespective of the season, you will get market all year round either from individuals, rice milling companies or businessmen. You’ll need no much marketing to sell.
Capital might not be huge
Rice farming is not overly capital intensive compared to other forms of crop farming.
Challenges of starting a rice farming business
Getting the right variety
Without the right variety to plant, it will be difficult succeed in the rice farming business. Many middlemen desperate to make money have lots of fake rice variety in the market that make it difficult to know it, especially if you’re new in the business.
To escape it, you’ll need to consult an expert or someone who have been in the business a long time to make a recommendation for you.
Disease and pests are what can affect rice farming. Again best farming practice is what will stop the disease from spreading
Birds are what pose the greatest threat to your rice farming business as they tend to start feeding on the rice when it starts yielding. These bird comes in the group and reduces the yield significantly if nothing is done. Several farmers employ several means to stop it.
Importation of rice is affecting rice farming, people have become used to the foreign rice because it’s cheap and dirt free. But things are changing gradually as rice farming business is getting close to the light at the end of the tunnel.
Now that you know the opportunities and the challenges of starting a rice farming business, let dive into the steps to start the rice farm.
How to start rice farming business
Create a business plan for rice farming
This is everything about the business on paper. You’ll need to be realistic with your business plan for rice farming. These should come from a well market research and feasibility studies. These helps determine the potentialities.
These will enable you to know the required grains to plant, cost acquiring and cultivating the land, the market size, required manpower to work the land, the pesticides and fertilizer required.
The business plan on rice farming also helps the business maintain the vision of the rice farm until the goal has been achieved.
Raise the capital
Like any other business, you’ll need capital to start. With a well-written business plan, you’ll be able to attract investors, venture capitalizes and loan that can finance the business.
If you also look for assistance from friends and family. Most often these group will not ask about your business plan, but you’ll to convince them it will work.
Acquire the land
Not all land are suitable for rice farming. Although some will argue that, but to be able to get a bumper harvest, you’ll need a land that has a good amount of clay and organic matter.
The land should have the capacity to retain water and should be between 5 to 8 PH range for the rice to find it suitable for normal growth.
If the land has little water, you can make provision of water.
If you don’t have the land, you can buy or leased one taking into the consideration mentioned above.
You’ll need at least one acre of land to start your rich farming business and when you employ the best farming practices enables you to cover your expenses and make a profit.
Get the best variety
A healthy rice variety is what determine the yield the farm will get and disease resistance. This will have to go with the best farming practices.
You can spend your time to get the best variety because the bountiful harvest is dependent on it.
Work the land and plant your seed
Get the people who can do the job. Here you can hire people to work the land or pay for the tractor to tilt the land. Using tractor cultivation is faster than that done by people.
Then you can start planting the rice seeds.
Planting of seeds can be done in two ways. Some will prepare a nursery bed and the seeds are planted in the nursery until they germinate.
After 3 to 4 works, the germinated rice from the nursery is transplanted to the tilt land.
The second method is to plant the seed directly on the tilt land.
Get a storage facility
Rice farming business will not be complete without a storage facility. These are where you store the rice either during the drying period or for storing it in the time of low prices until the time the market provide the best opportunity for profit.
The storage facility can be located inside or outside the farm. However, the location should be in a secure place to avoid theft.
The best time to start the application is from the third week.
What to do after harvesting
The rice farming business will require you to do the following to be able to get the rice.
- Sundry the harvested rich
- Store the rich in sacks
- Market your rich product
Here are some more tips that will help you during the farming period.
Never allow weed to grow with the rich. This will make them compete for nutrients and may not give you the harvest required. The weed control practice should be given the utmost priority.
Rice farming business is a viable business you can start. The business can be done on a small scale and still reach your target when modern rice farming techniques are employed.