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Cash Crops Farming Business In Nigeria

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As much as the field of agriculture provides a lot of investment opportunities and employment prospects, it also unlocks a world of investment and another wave of employment opportunities off field. 

Cash Crops simply refers to crops grown or farmed for profits. below are cash crop worth investing in
      · Cocoa:
Cocoa is in very high demand in both the local and international market due to its wide use in the making of coffee, tea, chocolates, a series of other beverages, candies and the likes. Cocoa is a perennial crop that takes years of dedication and commitment and this pays off as an cash crop farmer/trader if you are ready to invest in the field. Being a very good source of foreign exchange, you can rarely go wrong if you invest here.
READ ALSO: How to Start Cocoa Farming Business In Nigeria And Make Profit

    ·    Cotton:

Cotton is used for cloth making and in Nigeria, we happen to have the right weather and soil to provide this in high quantity. We are also one of the major suppliers of our European nations in the trade of cotton and you entering the market is just one more person benefiting from the already available money making structure.

    ·   Rubber:
Rubber finds a lot of applications in the industrial, commercial and domestic scene and this makes the plant have a lot of market to sell in. The manufacturer of tires, flip flops, bands, some clothing materials and the likes are in high demand for rubber and if you can produce this, there will be a lot of companies at our mercy willing to negotiate the best price for it. and did we mention that it also provides foreign exchange?
READ ALSO: How to Start A Rubber Plantation Business In Nigeria

    ·    Sugar:
Need we concentrate on this? Sugar is one of the daily necessities and we find it in a lot of our meals. We can barely take beverages without sugar and being able to grow the sugar canes here is a huge plus for us. You can engage with a farmer to get the product and then market at an even more convenient price to ensure maximum profits for you. Once again, this smells of foreign exchange.
We can go on and start telling you all the kinds of crops that gives you the chance to set up a cash crop farming business as there are simply too much out there. Ranging from wheat, cornsoybeans and rice, the list can never simply be exhaustive. Now that we have our eyes opened to the prospects of Cash crop farming business, let’s go on to see how we can also join the money makers.

     1. Draw a business plan
Planning is important before going into any business. A business plan would always keep you on track and make sure that you keep your goals in mind. A business plan is also an important way to get investors in your business and also obtain loans and grants from banks and agriculture relief institutions respectively should you need it. If you don’t have a detailed and well thought out detailed plan, you are bound to miss out on these niceties and even run into some issues in the future. After doing this, make sure you place your total focus on the plan on ground and see it through.
Uniqueness would also be a good thing to consider when bringing up the business plan. Look at how other investors in the market are doing things and then start thinking on ways that would make you stand out and emit a positive vibe that would take you places. Don’t forget to include capital and every other operational costs in your business plan.

    2. Do your research
Research is particularly important if this is your first time in this kind of venture. Research would help you determine how other investors are doing, what they are doing and how the market is set up. You would be able to determine the best practices to make maximum profits and the virgin lands that are still yet to be stepped upon by others in the market. You would be doing your business a lot of good and starting off on the best foot with some research work and feasibility study. Your research would also open new ways to your thinking on what it is that you would enjoy doing best. Knowing your strengths is very important when starting a capital intensive project so that you remain positive and enthusiastic at all times, not doing something mainly because you feel the rewards are large but you have no passion for.

    3. Getting your wares
Link up with local farmers – a lot of them is necessary – and have them sell their products to you. This way, you get to buy at the cheap rates offered at the farm gate and then go on to make profits in many folds. Make sure that you have various kinds of  farmers at your disposal as regards the kind of products you are dealing in. Cash crops are the major money makers so it wouldn’t hurt to have some cocoa, cotton, rubber, etc. farmers in your clientele.
     4. Marketing
This is the most important part of any cash crop farming business. Make sure you understand your market well from the research that you have done above and know who likes what more. Also, extend your marketing skills to include international markets and pick up some exportation skills and knowledge to be able to serve the international market where the major profits usually lie.
Starting an cash crop farming business is a very capital intensive project and it is advised that you take your time when lunching into it. this business not something you want to rush in to as you might not make the desired profit. Instead, take your time to really flow with the market, study it and you would be on your way to wealth.