How To Start Oil Palm business in Nigeria


Oil palm farming is a very lucrative farming business and very very profitable agricultural business, there is a lot of money from oil palm business if only you can invest in it and be patient after planting.

If there be any business i will recommend is definitely oil palm business because is a very lucrative business that i know yield a lot if only you can be patient because oil palm business is not a plant and harvest quickly, you have to wait for three to four years after planting before it will start yielding.

What are the things you need to start

Starting an oil palm business is not something you start with little money, your starting capital should be from 1 million naira above excluding land money, because you need to buy a land at any village because buying land in town will cost you a lot than your budget.

Land planning
  • Go to a less developed village to get  land at least 10hectare of land you will get for 1 million naira.
  • Get the land.
  • Survey the land.
  • Buy a land with sandy loamy soil with pH of 5.0-7.0 acidity.


You can use manpower or machine to clear the land, you can plant other agricultural produce on the land before the palm start closing canopies that's from the 7th or 9th year, you can plant plantain, corn, or cassava that you can harvest yearly. Create a pathway for vehicle to pass, for easy movement of the crops and palm.
Peg the land for planting. use the 9m by 9m standard spacing recommended by NIFOR (Nigeria Institute For Oil palm Research) whether straight or triangular method of planting.

Seedling

We have three types of seed
  • Tenera
  • Dura
  • Pisifera

Tenera is a genus of moth in the family of Gelechiidae, Tenera is more preferable because it start it yielding after three years of planting with goo management and with adequate water, and the bunches will increase more from 8th or 9th year. Use 9m by 9m for planting, you can use 8m by 8m or 7m by 7m but the recommended planting space by NIFOR is 9m by 9m for good yield of the palm.

Apply fertilizers after three months of planting

Harvesting

Harvesting start after three years of planting and it's also depend on the type of seed you plant and the year planted and season, so harvesting happens at different year depending on the type of seed used. Planting can be done anytime but if it is during the time of low rainfall you will have to provide water for your palm.

Pest

There are many different type of pest, some are Aphids, Mealbug, Caterpillers, Termites, Nematodes are some of the pest and Freckles, Vascular wilt are some of the diseases of the palm to watch out for, use pesticide.

Clearing/Weeding

This can be done twice in a year, you can either use machine to do that or manpower, you can buy a mower for weeding.

Profitability

I can tell you that there is a lot of profit from oil palm business, everything about the tree is money, for a mature palm fruit produces 5 tons of red palm oil annually per hectare, while supergene produces 7 tons and above. from this comes a lot lot of money not to talk of other commodities you can still get more money from, such as the residue of the processed palm fruit is use for fuel and fertilizers for crops. The back of the palm fond can be use for weaving basket, hat etc and also the palm fond leaves can be use for broom. Still more and more produce you can get from the palm, nothing is a waste, everything about it is money.

The risk that can be encountered sometimes is fire outbreak which destroy your crops or your investment, so do the needful to avoid this outcome.

With this little tips, you can see that oil palm farming is a very lucrative business to embark on, all that is needed from you is patient for a minimum of three years and you start harvesting and become a millionaire overnight.

was this post helpful, please kindly share with friends and leave a comment below and please don't forget to follow and subscribe for prompt notification on our next article, join us on Facebook @FinstTv/Finstbizz. Thanks

Post a Comment

8 Comments

Emoji
(y)
:)
:(
hihi
:-)
:D
=D
:-d
;(
;-(
@-)
:P
:o
:>)
(o)
:p
(p)
:-s
(m)
8-)
:-t
:-b
b-(
:-#
=p~
x-)
(k)

Copyright (c) 2020 Lawrence Fasting All Right Reserved