Rice Farming business plan in Nigeria is available and its updated from time to time with current market values, it can be used to access Bank loans, Grants, proposals etc.
In Nigeria in recent years, the price of rice has consistently be on the high side and this has made Rice farming / processing a very lucrative business in the country.
Rice is one of the most common food in Nigeria, it is in every home, eaten almost everyday but mostly during ceremonial periods.
The percentage of agriculture in Nigeria is the largest sector. A country cannot survive without agriculture. Food is basic to man and rice is one of the most important food in Nigeria and countries like China, North Korea, Indonesia etc.
Rice Farming Feasibility Study
Rice is the third most popular crop after maize and every household cannot do without rice. Rice is highly demanded during occasions and festive period, there are families that cannot do without rice in a week. Rice is a valuable commodity so for anyone thinking of going into agricultural business you are on the right track because it’s demand is not seasonal.
In Nigeria after the recent order by the presidency to stop the importation of rice, rice farming has grown to become one of the most lucrative agricultural business in Nigeria. This kind of farming doesn’t take much time before you start getting your profit. Rice farm last for a period less than five months and it doesn’t require much training.
Rice production promises a better profit and business for any business man/woman just so long as you know the rules of how it is done. Nigeria citizens consume about six million tons of rice every year. Local production of rice is not able to satisfy it’s ever increasing demand of rice, so the Government imports 1.8million tons of rice every year.
Rice farming which is the cultivation of rice for man’s consumption is a business that many Nigerian farmers are yet to venture into.
If you are considering venturing into this business, here are some benefits you should know.
1. To have a bountiful harvest, the land for your rice farm should be a swampy and less acidic
2. The right fertilizers should be applied and supplied rightly
3. There are different variety of rice specie so you have to make sure you cultivate the right one.
4. You must have a good method of controlling weed, and pest.
To have a good rice farm there must be some vita thing you must know, i gave some highlights early but to get good knowledge of all that there is to know, our Rice Farming Processing / Production Business plan will help you to not only plan financially but also know what to expect from this business.
Cost of starting a Rice farm
In starting a business, you either starting a small scale or large scale. This depends solely on the capital you have on ground. This involves the size of land you want to use for your rice farm, tractors, manpower, etc. All of this must be taken into consideration.
For large scale rice farm you will need from 5 million to 20 million or more but for small scale you will need from 1 million to 5 million. It really depends on the scale and how well you know the nutty gritty of this business. If you are not very familiar its advisable to meet professionals that can help you and point you in the right direction.
This is one part a well written business plan can do for you like the one we have for rice farming and processing. Although price are always changing, but this will give you are the estimates of necessary things you need like storage, packaging, equipment, operating cost, delivery and so on.
The best time for rice planting is mid March to mid April. Rice planting and harvest can be done within 4 months. The rice is ready for harvest when it changes it color from green to brown.
Factors to consider in Rice Farming
Land
Unlike other farm products, Rice requires swampy land with a lot of water. Rice can grow in any land but it grows well in swampy land. That is why farmers take their time to do some serious irrigation before planting rice. When looking for land to grow rice, make sure you look for swampy land.
In case you cannot get swampy land, look for a land that won’t cost you much when you use tractor on it and channel water for proper irrigation. Rice grow and yields very well in a swampy land, if there is no swampy land, however rice can grow in both dry land condition and swampy area but the fact is that rice grow and yield better on swampy land than dry land.
Rice Seed
This is a very important aspect of rice farming. The seed use in planting will determine how well the yield will be. Generally in agriculture, the parent stock has a great deal of impact on the turn out of the crop so choosing a healthy seed is non-negotiable.
Choosing the best variety to plan that will thrive in the environment is key. There are lots of rice farm out there that is doing very poorly just because the they never took adequate time to select the right seedling before propagation. In selecting the seed, this has to be done manually to ensure the best of the best are chosen for propagation These are some of the advantages that comes with that.
i. This will improve the yield by 5 – 20 percent
ii. Minimize weed related problems
iii. Meliorate crop germination above 80 percent
iv. Consistency in plan size
Nursery – In rice farming, this is where the seedlings are raised for transplanting. This method is common in commercial farming. The seedling are first of all planted in the nursery and allowed to grow from some weeks. After they have attained some level of growth they are transplanted to the main farmland. This is carefully done. The roots of the plants must carry the soil from their nursery farm. Remember, the land must be a swampy land for optimum yield.
Hauling mill
Rice takes four months to be ready for harvest. After four months, get a hauling mill to separate the rice from the haul. It requires separating the rice from the haul and blowing the haul away.
Parboiling
This process is required before packing the rice for distribution
Sun dry the rice
You need to sun dry the rice to make it easy for hauling. Place the rice directly under the sun for it to dry. You can do this for 3-4 days and ensure that the moisture is dried.
Packaging
This can be done by putting the rice in a branded bag of the producer depending on what the business owner wants. The branded bag should contain office address, phone number, name of company. This helps customers to reach you easily and makes your product unique.
Knowledge
This involves getting information on the production of rice by attending seminars/workshop. No business can succeed without a plan, it is important to carry out a business plan and consider factors like:
Capital
How much do I need to start this business. The capital for starting rice business is very expensive, it runs to millions of naira but loans can be gotten from government. You consider getting loans if you don’t have it.
Type of Rice to Produce
Every state has chosen the right type of rice depending on their land, climate and weather conditions. Below is example of states and their different rice type:
Ebonyi state: Ebonyi rice
Kano state: UMZA rice
Ogun state: Prada rice
Niger state: Mama happy rice
Anambra state : Anambra rice
Ekiti state: Igbemo rice
Equipment
Employees
Distributors
Goals for the year
Innovations
Methods of planting
There are two methods of planting:
Direct seeding
This can be done by broadcasting. Dividing your land by 50-100 square meters each and construct small bunds. The disadvantage of this method is weed, you can use herbicides to illuminate them.
Nursery method
Put seeds places in gunny bags in water for 24hours. After soaking, put the gunny bags in shade and sprinkle water over the seed and turn bags from side to side at least three times a day. After 48 hours it is ready, drain water from it and apply fertilizer .
Challenges of Rice Production
Pest, rodents, insects, birds.
You can apply insecticide, herbicides, and you can employ someone to manually scare the birds away.
Right rice seed
This determines the outcome, getting good rice seed is not easy. If you get the right seed, here are the benefits :
Decreased weed problems
Improved yield by 10-20%
Produce consistent rice seed size
Increased rice resistance to pest
Benefits of Rice Production
High demand
Rice is highly demanded by every household, like we earlier said most families cannot do without rice per week and some families make it a must to eat rice every Sunday. Rice is highly demand on festive period and occasions.
High yield
You can get at least 100 bags of rice from one acre of land.
Less expertise
You don’t need to be an expert to become a business man in it. Just few months of training you are good to go.
High return on investment and market stability.
Personal consumption
The farmer can consume his/her product. Here, money for personal purchase is saved.
Table of Content
Executive Summary
Introduction
Business Description
Products and services
Competitive Advantage
Market Research
Competitor Analysis
Sales and Marketing Plan
Operational Plan
Business Risk
Management and Structure
Financial Plan and Projections
This Rice Farming / Processing Business plan can be used to access bank loans, proposal writing and grant applications. The business plan was complied after a thorough feasibility study on Rice farming business in Nigeria was done.
RICE FARMING AND PROCESSING BUSINESS PLAN IN NIGERIA. To place an order, pay N10,000 to
GTBANK (Guaranty Trust Bank)
ACCOUNT NAME – UWADIA EYEMEKA
ACCOUNT NO. – 0127561472
After payment text your name, your e-mail address and bank teller number to 07036785443 and you’ll receive your Rice Farming Business Plan in Nigeria / Feasibility Study.