₦airaland Forum

Profit Analysis for ofada rice cultivation on an acre of farm based on my personal experience

Cost of production
Land clearing plus chemical spraying to control weeds #14,000
Ploughing and land turning #13,000
Rice herbicide (2 application) #11,000
2bags of Urea fertilizer #15,000
Cost of buying seed (25kg) #16,000
2persons for bird chasing per month #40,000
Total cost for harvesting rice #30,000
Rice thresshing #7,500
Miscellaneous #15,000
Total cost of productin = #161,500
Yield per acre is 1.6tons or 1600kg
Expected money from sales #799,000
Gross Profit = Sales - Total cost
Gross Profit = #799, 000 - 161500 = #637, 500.

Pls note : these prices are what I personally experience and this is uptainable in my locality. Also note that from the above profit, cost of transportation has not been removed.

For more questions, enquiries about rice farming, indicate by following this thread and let's get to talk. I will still give the full detail on how the whole process went down, all the cost of production and the profit margin at end of the whole process.

Let me give a breakdown of the whole process;
I planted my ofada rice on June 9th, 2018 in Ido local goverment of Ibadan Oyo state . The farm is an acre of land and I planted around 25kg of ofada rice seed by broadcast after the farmland have undergone preparation and the land has been manually turned my labourer.
After broadcasting the seed, germination started around 4-5days. We did our first herbicide spraying by the 3rd week, then we repeated this after the 4weeks of the first application. We applied urea fertilizer at two critical stages, first at tillering stage and second at parnicle initiation.
How major challenge is bird, birds control is the major problem in rice production across the world, but we were able to subdue the birds by manual chasing waking up as early as 6:30am upto 7pm in the farm trying to scare them away. The reason we had hard times with birds was because our rice was the first in the vicinity.
We started harvesting on 1th of October 2018 as some rice have completely ripe, so we did a sellective harvesting. The whole harvesting process took us more than 10days and we harvested 1.6tons of rice at the longrun.

For anybody who is interested in farming and wants to invest on agribusiness and he or she is a novice as far as agriculture is concern, that person should feel free to talk to me on this thread and I shall gardly advice such person on how to be rich in just 4months after cultivating ofada rice or even other types of rice.
The only difference in ofada rice cultivation and non-ofada rice type is the fact that ofada rice command higher price compare to the common or conventional rice in the market, maybe because of it health benefit and aroma. However, ofada rice produces less than the foreign or conventional rice. From my experience, ofada rice when cultivated under lowland condition, it can produce between 3-4tons per hectare while foreign rice can give you up to 12tons per hectare if well managed.

This is the picture of the farm getting close to parnicle initiation after tillering

Just want to share my experience on my just concluded afada rice production on an acre of farm in Ibadan Oyo state. I will be adding some necessary pictures when needed in the course of the discussion.