Corn farming as a business opportunity
Corn farming business in Nigeria is an opportunity for anyone looking to trade in the agricultural sector as a main or side business as they stand to make sizeable amounts of money through it with little investment.
Corn is a member of the grass family which is cultivated in diverse climatic conditions and is one of the most common food crops in Nigeria. It is used in many sectors: human and industrial consumption and animal feed.
Investing or starting a corn farm in Nigeria is quite simple as the initial capital expenditure is very low. The major expensive factor, if you are farming yourself and not just investing, is the land, which you can lease until you have enough capital to purchase one.
Corn, unlike other crops, can be grown successfully in a variety of soils. However, for higher yields, it is best to plant corn after it has rained repeatedly because it will help the seeds to germinate and grow well. After three or four months, the corn plants are ready for harvest.
However, the crop is subject to a host of diseases. If factors such as the amount of rainfall, sunshine and the level of weeds, pests and diseases are in check, a hectare should yield between 2,000 to 4,000 kilogrammes of maize, which can go for about N14,000 for 100kg in the market.
Before going into the business, you identify the corn market to determine if you are going to be selling your corn directly or if you want to involve a third party or middleman to get your produce to the traders. Where you will sell your corn also plays major part in deciding.
It is always better to have research done and ready buyers and how they want it because corn has different uses. For instance, some traders may want it on the knob, and some may want it shelled.
Although most people traditionally just sell in the market, you can rely on corns’ versatility and make more profit by selling it to industries, as the starch from corn is used to produce several additives, agents and ingredients such as sorbic acid, sorbitol, dextrine and lactic acid. Saving or storing is a good idea as high supply is usually parallel to low prices so that you can double your profit.