Agriculture today has gained a lot of attention from so many international authorities and investors. Farming, in particular, is gradually being adopted by so many as its high profitability is becoming more and more apparent. Research into the development of an easier, safer and faster farming processes is on the rise, with more focus on the development of healthier, and purer agricultural varieties geared towards the promotion of better healthy living.
With farming in the limelight of agriculture, many people will begin to wonder what other agribusinesses they can venture into aside from farming. The good news is that farming is just a small integral aspect of agriculture, and although profitable it comes with a lot of rigorous work and entails a lot of patience. There are many other equally and perhaps even more profitable agribusiness opportunities waiting to be tapped into. If you feel you don’t have the vigour for the farming business, you should definitely take a look at the following top 5 non-farming lucrative agribusinesses that you can venture into:
- Supply Chain Marketing: All you need to do is to find a potential market locally or internationally and redistribute agricultural products from areas of production/low demand to the target market. It is perhaps the most simple and profitable non-farming agribusiness that you can invest in, regardless of how much capital you have.
- Animal Feed Production: It is indeed one of the very cost-effective and highly profitable non-farming agribusinesses. The up-side is that it doesn’t require setting up an elaborate structure, any room with enough needed space will suffice. The likes of Guinea pig farms, poultry farms and Fishponds are always in high demand of highly nutritious, growth-enhancing animal feeds which can be sourced from local food processing agents.
- Production of Fertilizer and Other Farming Operation Chemicals: This particular agribusiness is more for those with a degree in Chemistry or Agricultural Economics/Extension, or knowledgeable making biofertilizers, organic fertilizer, Chemical fertilizer, pesticides, Herbicides or Weed Killers. With just a little capital needed for production, you can make a lot of profit from this business.
- Farm Machinery Supply: Farming does not happen with just a couple of cutlasses and hoes, there are so many types of machinery required to carry out different types of farming. You don’t have to do the actual farming to make money, you might as well use the capital you have to buy some farming machinery and either sell, rent or lease them out to different farming businesses while you sit back and make your profits.
- Processing of Farm Products: You may have a special formula for making custard powder maybe from yam, soybeans or maize. The possibilities are endless when it comes to processing agricultural Products with endless research. No one said you must own a large manufacturing or processing industry to do so, you may invent your own recipe from your kitchen and begin your supply business from there and who knows you might just own a large manufacturing/supply industry some day.
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