How To Start A Lucrative Groundnut Farming Business In Nigeria: The Complete Guide
Groundnuts are the seeds of the crop, is nutritious for humans, and is an important source of edible oil. It is for this reason that groundnut farming in Nigeria, Africa, and many parts of the world is growing quickly because the global consumption rate of the crop is rising.
The global groundnut production rate sits at around 45 million tonnes a year. Nigeria produces about 1.55 million metric tons of this groundnut production rate annually. And asides this, the country is the largest producer of groundnut in Africa and the 4th highest producer of groundnut in the world.
Despite the huge the demand, the groundnut trade remains a profitable business, especially for entrepreneurs who farm it, harvest it, and export it themselves.
With a huge global demand and under-met local production rate, venturing into groundnut farming in Nigeria is a great move to make.
If you’re looking for how to start groundnut farming in Nigeria, you should read on.
What is Groundnut Farming About
Groundnut farming is the complete process of groundnut cultivation (from the clearing the farmland to the planting of seedlings and finally harvesting of the groundnut plant), for both local consumptions, commercial uses, and or exportation.
What Are Groundnuts?
Groundnuts, also known as peanuts, goober, or monkey nut, and taxonomically classified as Arachis hypogaea, is a legume crop grown mainly for its edible seeds and oil extracts.
Business Opportunities In The Groundnut Farming Business Around The World
1). Source of Food:
Groundnut serves as a high source of food and sustenance to people located all over the world.
2). Source of Edible Oil:
Groundnut can be processed for its edible vegetable oil which is used in the preparation of meals, pastries, health purposes, and much more.
Facts And Benefits Of Groundnut
- The groundnut seed contains about 52% oil, 30% protein and 18% carbohydrate
- Groundnuts are harvested twice a year
- Groundnut is a legume crop
- Groundnuts are the 13th most important crop available to mankind.
- Nigeria is the highest producer of groundnut in Africa
- China is the highest producer of groundnut in the world.
- Groundnut help improves normal brain function and boosts brain memory power. Due to the presence of niacin (vitamin B)
- Regular intake of groundnut could help fight cardiovascular diseases and cancer
How To Start Groundnut Farming In Nigeria: Step By Step Guide
1). Select Suitable Farmland:
Choosing the right farmland is very important as it determines the growth and yield of the crop.
The favourable P.h needed for groundnut farming is a P.h of 6-7, which is a neutral p.h. It also thrives in sandy or loamy soil, that is well-drained.
Crop rotation is a very important part of groundnut farming as it helps balances soil nutrition and helps reduce crop pests.
Groundnut planting season in Nigeria is between May and June. Its recommended spacing is 75cm between the rows and 25 cm between the plants within the rows.
Groundnuts grow below the soil and the seedling cracks the soil about 10 days after planting, while flowers begin to appear about 40 days after planting.
20kg per hectare of phosphorus is recommended for the fertilization of groundnut as it helps to improve the yield by about 40%.
Groundnuts are harvested after 4-5 months of planting. By this time the leaves would have turned yellow. This can either be done manually or mechanically by the use of tractors depending on the size of your production.
Harvesting can be done by uprooting the groundnut from the soil and shaking it to remove the dirt. This can also be done mechanically with the use of tractors.
After harvesting, the groundnuts are left to dry for 3-4 days, after which the puds are snapped off, and are then stored in sacks that allow air circulation. Afterwhich the sacks are stored in cool dry places above the ground.
Challenges in Groundnut Farming in Nigeria:
Going into groundnut farming, you have to consider some challenges you might face such as;
- It can be difficult and time-consuming
- Lack of access to good-quality seeds
- Pest and Diseases
- Lack of adequate knowledge and technology
- Lack of adequate farmland to allow crop rotation
- Poor funding of research activities
- Pest and diseases
- Bush burning
- Lack of highly efficient storage facilities for the unprocessed nuts
- Lack of capital for large scale production
- Lack of easy access to the international market by most farmers in Nigeria
- Instability of the international market price of Wheat
- Lack of adequate government assistance
- Lack of adequate widespread knowledge on how to produce high-quality In Nigeria
- Lack of funds to import international standard processing machinery into Nigeria
- Thieves and criminals
- Importation of the crop
- Lack of highly efficient storage facilities
- Lack of availability of high breed seedling
To Sum It Up
Groundnut farming, unlike some other crops, does require more time in terms of resources and maintenance, and you won’t have to wait for years before harvesting your crops. With this, you can harvest and sell locally or export twice a year.
For new and existing entrepreneurs looking to venture into farming in Nigeria, Africa, or anywhere around the world, groundnut farming in Nigeria is a great place to start.
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