As I speak in Ipele, Owo LGA Ondo state, 1 "congo" (1kg) of maize was sold at N400 at yesterday's market
This means that one hectare yielding 4 tonnes (40bags of 100kg each) would have fetched N1.6m at yesterday's market!
2 cycles of dry season farming will certainly fetch N1m
This means that one hectare yielding 4 tonnes (40bags of 100kg each) would have fetched N1.6m at yesterday's market!
2 cycles of dry season farming will certainly fetch N1m
Let me spell out the process of planting 1 hectare of maize
Clearing - 55k
Brushing - 15k
Spraying - 25k
Planting - 12k
Weeding/Caretaker - 90k (1k daily)
Chemicals - 40k
Harvesting - 36k
Drying - 16k
Storage - 2k
Total= 295k
Sale price of 4MT at N150 per kg= 600k (3mths)
Clearing - 55k
Brushing - 15k
Spraying - 25k
Planting - 12k
Weeding/Caretaker - 90k (1k daily)
Chemicals - 40k
Harvesting - 36k
Drying - 16k
Storage - 2k
Total= 295k
Sale price of 4MT at N150 per kg= 600k (3mths)
To forestall unrealistic expectations, I'll add a caveat that maize has been sold in some places for as low as N70 per kg in 2019
The beauty of my above plan is that the maize can be quickly harvested within 3 months as opposed to leaving it to dry on the stalk for 1 extra month
The beauty of my above plan is that the maize can be quickly harvested within 3 months as opposed to leaving it to dry on the stalk for 1 extra month
Planting 2 cycles simultaneously will eliminate costs of clearing, brushing and spraying in the 2nd cycle
Which leaves a total of N200k cost for the 2nd cycle.
So with cumulative cost of N495k, & sale price of N70/kg, total revenue = N560k
profit = N65k (13% in 6 months)
Which leaves a total of N200k cost for the 2nd cycle.
So with cumulative cost of N495k, & sale price of N70/kg, total revenue = N560k
profit = N65k (13% in 6 months)
