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Profitability Of Plantain Farming Updated - Agriculture - Nairaland

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Profitability Of Plantain Farming Updated by Bernoullifarm: 2:42am On Sep 23, 2019
HOW PROFITABLE IS PLANTAIN FARMING

This is an update on my previous post on plantain farming.
A lot of the time, people have called me to ask ‘How Profitable is plantain farming?”
Someone even asked me a direct question “Can I become a millionaire farming Plantain?”.
My name is Frank Nwodo, I am the CEO of Bernoulli Farms and Food Limited. We are based in Rivers State and have been farming Plantain for the past 5 years. So our views on Plantain farming are not based on hear Say but on practical experiences over time.
I will take time to explain Plantain farming in this article and how profitable plantain farming is. Mentioning Plantain in this article covers both Plantain and Banana farming.
WHAT IS PLANTAIN FARMING?

Plantain farming is simply the growing of Plantain for commercial or consumption purpose.
For the sake of this article, we shall be focusing on the commercial purpose of farming plantain.

WHO CAN FARM PLANTAIN
Anybody that has land in an environment with the right climatic conditions can farm Plantain. Plantain does not perform well in very hot environment.
The soil condition can always be improved upon by the right application of soil additives.

IS THERE MARKET FOR PLANTAIN?
The demand for plantain is very massive and growing on a year to year basis.
In Nigeria, the population currently stands at a little over 200million persons. And daily, 20,000 children are born (according to UNICEF). This ever-increasing population require food as one of their basic survival needs. Hence, the high and ever-increasing demand for food of which Plantain is one of them.
Secondly, the population of diabetics in Nigeria is on the increase. According to WHO in 2015, the population of diabetics is about 3% and the value is increasing yearly by 0.3%. Globally the problem is very prevalent and Plantain has been identified as one of the best food for diabetics due to its low Glycemic index. The misconception that Wheat was healthy for diabetics was a major health disaster but with the recent discovery that wheat is not healthy but plantain is, has further increased the demand for plantain and pushed up the market value.
Between late March and August every year, the demand usually soars and price most times doubles due to scarcity. This is a constant and smart farmers usually pounce on this intelligence to rake in money. People come from far and near this period (March – August) looking for Plantain.

WHY SHOULD YOU FARM PLANTAIN
1. Easy to Manage
Plantain is very easy to manage. It does not require too much of your time. A full time worker, Business man, Pastor, Iman or whatever endeavor you are into, can do plantain farming without involving so much of your time.
2. You Plant Once
You only need to plant plantain once. After that, it is continuous harvest from year to year as the Plantain tree will keep producing suckers to replace the outgoing generation. You can also generate a lot of revenue from the suckers.
3. Ready Market
The huge demand for plantain makes the selling of your produce easy. In Rivers State, Bole women and some other market women come into the farms looking for plantain fruits to purchase.

TRAPS TO AVOID

In setting up your plantain farm, avoid the following traps
1. Inadequate Knowledge
If you lack the needed knowledge on how to care for your plantain farm, get a mentor to guide you. A mentor is someone that is farming Plantain successfully. Not someone that claims to be farming plantain but is just an internet farmer. We have a detailed manual for plantain farm management.
2. The Wrong Species
In my experience, a lot of unsuspecting intending farmers fall prey to big name species but end up buying local and non-performing species from internet farmers. These people parade all manner of pictures of plantain but don’t own farms. Be very careful so you don’t fall victim. We have the Cameroun Specie called Ebak Ebanga, Mboroukou3, Batard and the Nigerian specie called Giant Elephant.
3. The Wrong Climate
One very critical factor to the success of your plantain farm is the right climate. If your land is in very hot areas with little rainfall, then a lot of effort must be put in to make your plantain farming business a success.
FEASIBILITY STUDY ON PLANTAIN FARMING
This study is updated because certain factors have changed due to changes in some economic indices like inflation.
This study is on one acre of land. Which is 6 plots of 100ft x 50ft size.
SET UP COST
For the sake of this study I will not consider the cost of acquiring land and preparing the land because it varies from location to location.
The following are the cost to consider
a). Cost of buying suckers: The cost is #150 per sucker for treated and high performing species. One acre will accommodate 800 suckers at a spacing of 2m x 2m.
Cost of suckers = #150 x 800 = #120,000
b). Cost of Pegging and Planting: This cost is avoidable if you and your family members can handle. You can also hire professionals to do it applying the best practices. For the sake of this article, we will peg it at #100.
Cost of pegging and planting = #100 x 800 = #80,000
c). Logistics cost: This depends on the distance from where you are getting your suckers to where you are planting. For the sake of this report, we say #25,000
d). Manure cost: In order the quicken the growth process, a little bit of manure is needed. Poultry manure can serve perfectly. A bag is sold for #300. You will need 10 bags to plant 800 suckers.
Cost = #300 x 800 = #3,000.
Total Setup Cost = #120,000 + #80,000 + #25,000 + #3,000 = #228,000
If you plant the right specie that is properly treated against Nematode and fungi attack. Specie that is drought resistant, then you will not have any mortality. All will grow very well and in 8 months, they will start fruiting and harvest will be in the 10th month after planting.

MAINTENANCE COST
HERBICIDE
The cost of maintaining plantain farm is minimal. Basically, you manure, prune and weed.
As soon as the plantain reaches 1m in height, you start using herbicides. This will reduce your maintenance cost without any negative effect on the plants.
During the peak of the rainy season, you apply the herbicide more often. For one acre, you will need 3 bottles to properly tackle the weed per time. Application will be done like 5 times in one year. That is a total of 15 bottles.
A bottle of the herbicide is sold for #1,500 depending on your location and the product.
Cost of Herbicides = #1500 x 15 = #22,500
The spraying of the herbicide can be done by you so as to minimize cost.
MANURE
Plantain are very high consumers of nutrient. It is advisable to provide manure to the plants regularly to support their growth. You can either use organic manure or apply fertilizer.
Pig manure or cow dung are heavy and last longer while poultry manure act faster but doesn’t last long. Care must be taken in the application as wrong application can kill the plants. (manure application techniques are explained in our plantain farm management manual).
Using Pig manure, you can get 100 bags to cover one acre. Each bag is sold for #200.
Cost of manure = #200 x 100 = #20,000
This can be done by you and your family members.
Total Maintenance Cost = Herbicide cost + Manure Cost = #22,500 + #20,000 = #42,500
Total Setup and Maintenance Cost = #228,000 + #42,500 = #270,500

REVENUE/RETURNS
The returns from plantain are in two folds if you properly take care of your farm. You will get a lot of suckers and hefty plantain bunches.
1. Returns from Suckers
Each plantain tree can produce as much as 15 suckers. You can decide to sell 12 from each tree which means you will have 9,600 (12 x 800) suckers available for sale.
If you sell each for #150, then the return from suckers = #150 x 9,600 = # 1,440,000.00
2. Returns from Plantain fruits
The plantain bunches from good species that are properly taken care of are hefty. The minimum price irrespective of the season is #1,500.
The return therefore = #1500 x 800 = #1,200,000.00

The projected total returns in one cycle = #1,440,000 + #1,200,000 = #2,640,000.00
Profit = #2,640,000 - #270,500 = #2,369,500.00

So, for those asking if Plantain farming is profitable, my answer is yes and you can see that with this study. Again, you can become a millionaire farming plantain as you can also see from the analysis. But the point still remains that you must maintain your farm appropriately.
Plantain farming is like fine wine. It gets better with time. The second generation profit will double the first generation profit meanwhile you wont have to spend on buying suckers and planting anymore unless you are expanding.

Below are some projects we have done that are doing well.
We can supply you very viable plantain suckers of exotic species and we are available to guide you reap bountifully from your plantain farm investment.
We also give out our manual free (valued at #20,000) that covers all the information you need to effectively manage your plantain farm when you buy suckers from us. Should you also need buyers, we can get you connected to bulk buyers for your plantain fruits.
Kindly visit www.facebook.com/bernoullifarmsnfood to see our jobs and other things we do. You can contact 08138286066 (Calls) or 08186005285 (Whatsapp) or 08087500382 (Whatsapp) for plantain/banana suckers supply, farm setup, farm management and consultancy.

Re: Profitability Of Plantain Farming Updated by dedons: 3:13am On Sep 23, 2019
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Re: Profitability Of Plantain Farming Updated by Bestnigeriabusi(m): 6:19am On Apr 27, 2020
Plantain Farming Business Plan In Nigeria 2020. PDF How Do You Start

PLANTAIN FARMING BUSINESS PLAN IN NIGERIA/ FEASIBILITY STUDY

Recently i made a post on plantain chips Business in Nigeria and based on demands I decided to make a post on plantain farming business plan in Nigeria and i hope you will find this information useful. First of all, we must understand that this business is a very profitable business and for those who are interested in going for it, I have made this article specially for you. So enjoy it. Plantain Farming Business Plan In Nigeria

Nigeria is a blessed country though it’s natural resources are not properly managed. Nigeria is a blessed agriculturally with large expanse of lands. And this is one of the reason why plantain flourish so well. Plantain business is a very lucrative one so long you have the right knowledge about it. There are some skills that that puts you ahead of in this business and that’s what we will be discussing. Please don’t forget to drop your comments on the comment box.

Read also >>> How I Can Start A Building Materials Business Plan In Nigeria

Plantain as it where is one of the commonly consumed food in Nigeria. And it is always available. Why is plantain so much in a very high demand in Nigeria? Because it widely consumed by vertically everyone. For those who don’t like eating it ripe can eat the unripe ones. Either you eat a roasted one, fried one, boiled one etc. With these, we are not surprised at all to why the product is in high demand.

Some states in Nigeria have taken a full responsibility of making plantain their main source income and they are actually making tons of millions of naira. Below are the states that produces plantain in a very large quantity: Ondo, Osun, Cross River, Ekiti, Oyo, and Edo. Plantain is produced in the following states in Nigeria Lagos, Ondo, Ogun, Oyo, Oshun, Ekiti, Edo, Delta, Cross River, Akwa Ibom, Imo, Bayelsa, Abia and Ebonyi.

How are plantains produced?

Let’s discuss how plantain are grown anywhere in the world. They are grown from a long 12 to 15 foot underground rhizome. When this happen, it results in giant leaves that are up to 9 feet long and 2 feet cross. It takes about around a central trunk or pseudostem. Plantain Flowering takes up to 10-15 months of mild temperatures and then another 4-8 months to produce fruit.

How long does it take for a plantain tree to bear fruit?

Before you can obtain a fruit in plantain production, you will need about 10 to 15 months without freezing temperatures to produce flowers and again you will need another four to eight months to grow the plantains produce to full maturity.

In Nigeria, plantain is one of the most sort after agricultural produce. And the reasons as we have mentioned are numerous. The ripe and the unripe ones can be boiled, the ripe one can be fried which is popularly called dodo. both ripe and unripe can be roasted, plantain can also be processed into flour. The raw materials are very rich in many ways. And that’s why it’s an important food stable here in Nigeria.

If you want to go into Plantain plantation, there are stuffs you need to know and that’s the fact that it’s need a conducive climatic condition to thrive very well. It can’t do well in a very hot climatic condition. Remember they are grown from suckers. Unlike what many people do say, plantain farming is a very stressless business to venture into. The reason is that it has ability to sustain itself for over three decades. It’s not as stressful as people do assume. It’s a stressless and when you start, you don’t need much input.

Read also >>> Tomatoes Farming in Nigeria Business Plan 2020 PDF

From research we have discovered that Africa produces over 50 per cent of the worlds total plantain production. This is quite huge. Let’s get some more statistics. Do you know that plantain are largely produced in the southern and western part of Cameroon. The reason is because the fertile soils of that region allow the plantains to grow well. Nigeria too is among the top 25 most plantain producing country in the world. It was researched by experts that up to 70 million people in West and Central Africa region get more than 25 per cent of their carbohydrate from plantain. Because of the demand for carbohydrate, fast food and ion, the consumption of plantain have led to the high rate of demand for plantain in Nigeria.

You won’t be advised to go into plantain farming business in Nigeria without first and foremost having a very good and well detailed business plan. With the business plan you will have a very clear picture of your business mission statements, market analysis and strategies too. financial projections, funding etc and Capital required for startup. With a business plan, you can now talk about expanding your business in the nearest future. Expansion means you can also have a plantain processing facility.

We have established one fact that plantain farming business such a one that can be self sustaining agricultural farming you can think of going into and it won’t stress you out at all. This means that anyone can very much do this business very well. Yeah. You don’t have to be a farmer or study agriculture in school. All you need is some basic knowledge and that’s what we are discussing here. Plantain Farming Business Plan In Nigeria

So many times I have been asked in seminars if plantain is a tree or palm? But the truth is that plantain is neither a tree or a palm but a plantain is a giant lumb of herb. As it where, it can’t do too well in every location and one of such a place is South Africa. In this country, plantain farming can not be done at all. This means that while choosing a location, you must have done your due diligence and research before you go into this business. Make sure you choose the right location for your plantain farming. Read on and see what we have for you.

TABLE OF CONTENT FOR PLANTAIN FARMING FEASIBILITY STUDY BUSINESS PLAN IN NIGERIA

1.0 Executive Summary
Keys to Success
Products
Market
Financial Considerations
1.1 Objectives
1.2 Mission

2.0 Company Summary

3.0 Products

4.0 Market Analysis Summary
4.1 Market Segmentation
4.2 Target Market Segment Strategy
4.3 Industry Analysis
4.3.1 Competition and Buying Patterns

5.0 Strategy and Implementation Summary
5.1 Sales Strategy
5.2 Marketing Strategy
5.3 Competitive Edge

6.0 Management Summary
6.1 Personnel Plan
6.2 manpower requirements
6.3 man power budget

7.0 key financial management controls

8.0 Projected financial statements
8.1 Application of funds
8.2 operating and maintenance costs budget
8.3 projected profit on 50 acres of plantain plantation in 12months
8.4 income statement projections
PLUS BONUS PACKAGE
COMPLETE GUIDE TO COMMERCIAL PLANTAIN PLANTATION FARMING IN NIGERIA
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After paying for your Plantain Farming Business In Nigeria Feasibility/Business Plan and Manual, send your email and payment details to 09066078526.

Before you get into this business, there are things that are needed before you start plantain farming business in Nigeria: Suitable farm land, healthy plantain suckers, fertilizer, clean water source, plantain graters, drying chamber, Packaging machine, knives for peeling, wheelbarrows, basins, weighing scales, stand-by generator, sacks and nylons for packaging, Sealing machine.

Read also >>> Poultry Farming Business Plan In Nigeria PDF 2020

Starting a Plantain Farm

Before you start a plantain farming business in Nigeria, you must first and most importantly have a farm land. Ensure you have the right soil and the a very good land located where you won’t have issues accessing it. You will need a loamy soil that contains a good organic matter. You can apply organic manure into the the land to improve the soil content if its not rich enough its very important that you acquire a land with the right type of soil.

For Lands that has a very thick vegetation, we can say is best for plantain farming. The reason is that is the thick vegetation indicates that the land contains the right soil for good produce and that’s just what a plantain farming needs.

Remember that it’s not all types of land that plantain does well. There are some specific kind lands that can work here. So don’t just acquire any kind of land. Ensure you acquire the best loamy soil for it. You can go through our business plan on planting not farming and you will see all that needs to be seen in regarding lands and soil for plantain farming Business in Nigeria. The lands must contain a good organic to inorganic ratio necessary for plantain Farming. So go for the lands that are the right soil composition for plantain Farming. For those who wants to go into commercial farming, they you will need at least two hectares of land.

Preparing the Farm Land

After you have gotten a land for your plantain farming, what’s the next move? You have to clear the land and most importantly you have to cut the tress down. These tress would have ordinarily shielded sunlight from penetrating to the plantains suckers. Ensure you have a well drained land that is naturally fertilized because young plantains or suckers do not do well in wet conditions. But at times you may not have a land that has all these qualities. So what do you do? Then revitalize the soil and make sure you add artificial fertilizer to moist the soil to suit what you want. This is a necessity should in case you don’t have a good land for plantains.

Getting Healthy Plantain Suckers.

The way plantains are planted are quite distinct from other plants. They are dry much different but in some other sense they are similar. One of the reasons for it is the fact that Plantains are not propagated from seeds rather it’s from what we call plantain suckers. Those of you who are into plantain farming will understand that there are three types of plantain suckers that exist which can be planted. The are: sword suckers, water suckers and maidenhead suckers

Before you start, please do your own due diligence about this business. Ensure you carry out your own research work. Because it will be very wise of you to plant a very good sucker so that you have a bountiful Harvest. Like I have initially said before, the plantain farming business can be self sustaining for as long as three decades and you need do it rhe basic clearing and maintenance. If you want your plantain farm to flourish and do well, then you much at all time it full attention and utmost care must be given to it. Ensure you water, protect the plantain and also protect it from strong winds.

Employ Laborers

This is not a one man business so I will advise that you employ some m
Laborers because you can’t own a big plantain farm and wants to handle it alone that will be counter productive. You will need some form of helping hands to get these jobs done. For example, you will employ those who will be in charge of planting and watering the plantain suckers, and also those to weed and harvest the matured plantains. When we talk about laborers, we are not asking you to employ the most educated one. Get cheap labour and get to pay some something.

Harvesting

It takes a minimum 8-10 months before for you harvest your plantain. And remember that these period will be their harvest time so the need for staffs is very important.

Our very own sample Plantain Farming Business Plan in Nigeria can be used to access bank loans, proposal writing and grant applications.

The business plan was recently compiled after a thorough feasibility study on Plantain Farming Business in Nigeria was done our team of experts..

PLUS BONUS PACKAGE
COMPLETE GUIDE TO COMMERCIAL PLANTAIN PLANTATION FARMING IN NIGERIA
PLUS BONUS PACKAGE
COMPLETE GUIDE TO PLANTAIN SUCKER PRODUCTION SEEDLING MULTIPLICATION

Hurry now, GET YOUR PLANTAIN FARMING FEASIBILITY STUDY BUSINESS PLAN. To place an order, pay N10,000 to

GTBank (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721

After you have made payment for your Plantain Farming Business Plan In Nigeria Feasibility Study, send your email and payment details to 09066078526

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Re: Profitability Of Plantain Farming Updated by benzion72(m): 8:55am On Apr 27, 2020
farming so easy on book with pen and paper and internet, you just plant 800 and harvest 800 and multiply by 1500 and money done come. Una well done

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Re: Profitability Of Plantain Farming Updated by Victornezzar: 11:21am On Apr 27, 2020
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Re: Profitability Of Plantain Farming Updated by ecstacybling: 3:34pm On Oct 04, 2020
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Re: Profitability Of Plantain Farming Updated by konews: 11:36am On Oct 14, 2020
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