Sugarcane farming business and production is one sector that has drawn particular interest in Nigeria recently. This is due to the realization that this area has the potential to create jobs for millions of Nigerians.
Nigeria has being ranked as the second largest consumer of sugar after South Africa and this places a demand on the sugarcane farming business which is a sub sector of the agro-allied industry. This article is centred on how to start a lucrative sugarcane farming business and how to make huge profits from it.
How Well Has Sugarcane Farming Business and Processing Fared?
Statistics show that currently Nigeria produces less than 10 percent of its sugar requirements. This tells us that the sugarcane farming business still has a long way to go.
This production level has been attributed to the lack of a concrete plan as well as guidelines to aid implementation. Therefore, it can be said that sugarcane farming business in Nigeria is underutilized even with the set up of a Sugar Development Council.
The major reason for the low production level of sugarcane farming business in Nigeria is that most of the farmers cultivate on a small-scale. One major way to curtail this, is grants given to these farmers by the government so as to enable them cultivate on a large commercial-scale.
The Advantages of Cultivating Sugarcane
Cultivating Sugarcane has its unique advantages. The most popular is being a raw material for sugar production, it is also used to produce biofuels among other numerous uses.
Another peculiar attribute of the sugar cane is its growth rate, sugarcane can be harvested more than 5 times before it is spent and new plants will need to be replanted.
Being a raw material for the production of sugar, sugarcane is in very high demand by sugar industries in the country.
Starting a Sugarcane Farming Business in Nigeria
Sugarcane farming business in Nigeria has a very high potential for expansion due to favourable government policies as well as the presence of ariable lands that help the growing of the crop.
As the number of sugar production and marketing industries increase, the demand for sugarcane has also increased. This high demand for the product has improved profit margins for sugarcane farmers over the years. The following are required to start a sugarcane plantation.
3 Steps To A Lucrative Sugarcane Farming Business
1) Gain Basic Insight/Knowledge
You will need to gather as much knowledge as possible on how sugarcane is cultivated if you must be successful in this business. That’s, conducting a feasibility study.
Cultivating sugarcane on a commercial-scale will require a vast land which is also one of the basic requirements in sugarcane farming. Cultivating and Tending the Crop
Sugarcane cultivation require good water supply, this can be obtained from a natural source such as rain. Therefore, it is more cost-effective when sugarcane farms are cultivated in rainy seasons. The crops should be well taken care of so as to ensure a very good harvest.
2) Considerations For Cultivating, Tending And Making Good Yields
After you might have planted your sugarcane, what follows is tending for the crop. This is necessary in order to make good harvest when the crop matures. Where you site your sugarcane plantation matters too, as not all species of sugarcane flourish in certain locations.
Generally, however, sugarcane thrives well in regions with good supply of rainfall, that is, the rainforest belts of the world. Thank God, such is found in Nigeria. So, upon harvesting of your sugarcane, we now move to stage three.
3) Supply Sugarcane Products to Sugar Factories
In supply, lies the essence of your sugarcane business. Supply channels need to be defined because your profitability in the business also lies here. Over the years, Nigeria has experienced a huge deficit in sugar production due to the increasing consumption of sugar in the country. This has led to a high demand for sugarcane by sugar production factories.
This high demand has imposed the need to resort to importation of sugar in the granulated and cube form. One thing to consider when supplying is the competing demand between sugar industries and direct consumers. Achieving a balance between these two is one way to maintain a continuous profit flow.
Several policies have been put in place to help increase the cultivation of sugarcane in Nigeria so as to reduce and eventually stop the importation of sugar.
Huge potential profits abound in sugarcane farming especially when done on a commercial-scale. Due to the increasing demand, sugarcane plantation will be an ever-expanding trade.
There is hardly anyway you will not make good returns on your investment, doing sugarcane business in Nigeria. The steps outlined in this article are very clear and highly simplified.
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