Top Profitable Agribusiness Ideas
Recently it was reported that over 60% of the world population still depend on agriculture for survival, this opens the door for entrepreneurs who are looking for innovative means of increasing their income to invest in agribusinesses.
Worthy to note that;
- Agribusinesses are considered to be among the most profitable in the world today, with almost 80% of profit return.
- The good part is that most agro-businesses doesn’t require any degree, experience, or training.
- All you need is a basic understanding of farming and that’s enough to get into agribusiness.
- There are thousands of profitable agriculture business opportunities which is more reason everyone can expect a good future in this sector.
Here are carefully chosen profitable agribusiness ideas one can invest in.
One of the most lucrative agribusiness, pigs are known for their reproductive prowess, a single sow (female pig) can give birth to twenty-one (21) piglets depending on the specie.
Also one of the most misunderstood animals in the whole world as well, pigs are known by many as being one of the dirtiest animals but far from what many believe, pigs are the neatest animals if all maximum care are met.
Pigs are not dirty and do not smell, Pigs cover themselves in mud in search of a cool environment. This is because they lack, sweat glands.
Often regarded as one of the most profitable agribusiness ideas. Pig rearing hasn’t been saturated like other agribusinesses.
While pigs can give birth to over twenty (20) piglet at a go, their gestation period is three months, three weeks and three days, that’s approximately 114 days, that’s basically to say that a pig can give birth three times in a year if managed well.
Think about this, if the pig gives birth to twenty-one (21) piglets and does these three times per year? A baby pig (piglet) is sold for #5,500 – #6,500 (that’s between $16 to $18) depending on how healthy they are and their weight (kg). proven from many shared experiences, pig farming is one of the most profitable agribusiness one can venture into in 2020.
Other factors can determine how many piglets your pig can produce, such as specie and management but the bottom line that, when all things are done right, you stand a chance of having over 50 piglets from one pig in a year.
Done by many for leisure, snail farming used to be unknown by many persons but today, the story is different, many are making cool cash out of snail farming.
Snail Farming/rearing is very profitable but its rearing is very much neglected.
Snails have high reproductive rate, consumes a wide variety of food materials which a readily available in the market.
Snails love cool environment and record high productivity under moderate weather conditions.
Snail farming takes little amount of space. Like you can start snail farming worth a good amount of money at the back of your home without stress. It is very nutritious and easy to rear.
Marketing of your snails is easy as they are in high demand in both local and urban markets. In 2018, there was a record higher demand of snail and it’s products than the supply of same.
Fish farming used to be unknown to many people except for those living in Riverine areas, fish farming has grown over the years, there is an increasing demand for fish as substitute for meat and other animal products.
Lately, people have discovered the nutritional value that comes with fish which has also lead to a high increase in demand for fish.
certainly, fish farming is very profitable and like other agribusinesses, you can start fish farming with little capital and grow with time. It’s worth throwing your weight around if you want to invest in agro-businesses.
This is currently one of the most lucrative parts of agriculture, with consumption rate increasing rapidly and production reducing, you stand the chance of making lots of cash by investing in any Agri-processing business. The only proven challenge facing investors is logistics, transporting to the target market, companies, and parastatals.
A friend who is into garri processing recorded so much profit in the first quarter of 2020 and much more during the lock-down and still higher of recent due to high demand of processed for, the funny thing is; it’s going to remain like this till even after 2021, why?
Because the COVID-19 outbreak has prevented most farmers from planting, there certainly will be a high demand for processed food as the world recover from Covid-19.
We will need more than a year or two to recover fully, this opens the door for opportunity. Other agro-processing business ideas include;
Bakery is one of the most profitable food processing business one can engage in, the good thing is, you only need little capital for a start, little space and a well-crafted marketing strategy that suits your budget.
One major mistake most persons in this bakery industry make is undermining the power of marketing in the bakery business, most people just do it for leisure so they don’t find it important to invest in marketing their products.
Bakery business is among the largest sector in the food processing industry. Generally accepted anywhere in the world, bakery products have become very popular throughout the world.
Depending on your financial strength and the demand for a particular bakery product in your area you will need to carefully choose a specific product for your bakery business.
Avoid choosing products that are not in high demand in your area. Go for the one people are demanding high daily. You certainly will succeed.
Banana Wafer Making
Banana wafers are under-ripe bananas that are cut into slice dipped in syrup solution, dried in the sun or an oven, fried, and eaten as snack food or dessert.
These products can be sold locally or as exported products. You can start on a small scale or large scale depending on your financial strength and willingness. They come back with great profit when done the right way.
Coconut Oil Production
Used in most homes and industries, Coconut oil is an important cooking medium. Coconut oil has numerous industrial applications.
It is used in industries for the manufacture of laundry soaps, toilet soaps, surface active agents and detergents, hair tonics, hair oils, cosmetics, etc. With great application in our daily activities, coconut oil is always in high demand.
One can seize this opportunity and make a good profit from processing coconut oil.
Other agro-processing ideas are;
- Frozen Chicken Production
- Flour Milling
- Groundnut Oil Production
- Honey Processing
- Livestock Feed Production
- Palm Oil Production
- Livestock Feed Production
There is a lot more to think of. You only need the right knowledge.
Yes, the regular culprit, poultry has been with us from ages but shockingly, to date. We still don’t understand that it’s a serious business, the reason why most poultry farmers do it for leisure.
Poultry is one of the most profitable agro-business in the world if done the right way, right way because most poultry farmers today, don’t care about obtaining good training before engaging in poultry farming.
They set up the poultry farm without first acquiring the knowledge on how to manage a poultry farm, that’s why many fail in this business while others do wonderfully well.
The demand for Poultry products will always be high as long as man lives, it’s not a question whether you will sell but a question of how constant can you be in your production.
Other agro-businesses like goat rearing, Cattle rearing, Grasscutter are worthy of note. They have all proven over the years to be of great profit when reared the right way.
Conclusively, as I have always advised young and intending farmers and entrepreneurs who want to go into agro-business, you have to get trained first, don’t make the mistake of investing if you don’t have the right knowledge, imagine carrying out a surgical operation without being train as a surgeon, it’s the same here.
Get the knowledge, understand how it’s done first, yes, most agro-businesses are tempting because of the high rate of profit but then it shouldn’t becloud your judgment about the importance of understanding what you want to invest in before investing in it.
Getting knowledge is your first victorious step.
There are lots of other options in agro-business, we would love to know your view about the above discussed agro-business ideas, which do you think is best and why, let us know in the comment box bellow.