Banana Farming Business Plan in Nigeria / Feasibility Study – Banana is one of the most consumed fruits in Nigeria, There are countless of road side women and girls selling banana whether you are in a moving vehicle or on the street you see them everywhere. Its not wonder why banana is the number four most cultivated crop in the world because if its nutritive value which makes the demand very high.
If you are thinking of venturing into Banana farming, the fact is you are not the only one because lots of businessmen and women that have recognized this opportunity and have gone into it and are making so much profit from it because its very lucrative, so what will be your edge over this people is information. How much about Banana farming do your know? Have you been into Banana farming, do you know the different varieties of Banana, how can you grow them well and make them sell-able? What are your marketing strategy. All of this questions needs to be addressed before you can be sure of of being successful in the business.
Varieties of Banana.
First and foremost, its very important that you know the different varieties of banana. This will help you in a great deal. Identifying the variety you want to venture into will get you focused and that is one of the major things you need in this business.
1. Apple Banana – This is a variety that is not common in Nigeria. The apple banana is more common in the Southeast Asia. The variety of banana can grow up to like 13 feet. It has purple, ivory, or yellow flowers. This variety of banana is available in Southeast Asia all year round.
2. Red Banana – As the name suggests, the banana have reddish-purple color. They can also be referred to as Dacca Banana. The color of the banana changes from light pink to cream. They are available in every season and this variety of banana are very sweet.
3. Ladyfinger Banana – This variety of banana is mostly seen in mid summer and early fall. They are usually smaller than regular bananas but they are also very sweet.
4. Cavendish Banana – this is the most common variety of banana. Found in almost all every part of the continent. They are curved and elongated. Before they ripen, their color is green and hard. When they are ripe, the color turns yellow and usually not as hard as it used to be.
Also Read: Plantain Farming Business Plan in Nigeria
How to Start Banana Farming in Nigeria
There are some thing you must take into cognizance before venturing into banana plantation. This thing are so vital because they can either make your banana farming business successful or fail.
Land – There are climatic conditions that are suitable for banana farming and its very important that you get a land that suitable for cultivation. Banana tends to do well in region with a about 27 degree Celsius. The soil texture should be moist, and fertile. This is the criteria for optimum production. There are farmers out there that do not pay too much detail to the soil texture and at the end of the day, they are asking why the yield is not as much as it should be. Well if your land meets the requirement there would be such issues.
Location – This is another aspect of that is of utmost important. Where your land is located has am impact on the business. Don’t just acquire any land you see because its cheap. Acquire a land that is strategically located because at the end of the day is about being able to market your business. If your location is not easily accessible. Those who are suppose to be buying from you will go somewhere else they can easily located. Banana is a perishable goods so even before the time for harvest get your customers ready. The good time about getting a strategic location that can be easily access to start your farm is that your farm produce will be easily sold.
Choose a variety – This is also a vital aspect. Like we read above. There are different varieties of banana. Its important that you choose the right one for your banana farming business. If you are not sure of the variety you want to venture into please ask professionals to point you in the right direction. It is advisable to choose the ones that are resistant to pest and diseases.
Planting – Planting banana is done using the suckers. That also means unhealthy suckers will produce unhealthy banana will healthy ones will produce healthy banana so be wise. Ensure your purchase healthy suckers. When purchasing suckers, the height should be from 1.6 – 2.1 meters. If the banana suckers are attached to the main plants, do well to detach them off using a cutlass or a shovel.
Management – The banana farm need constant irrigation, weeding. Watering should be done at least a week because the soil has to be moist for optimal yield. Pest control should be done anyhow you deem fit. If you are spraying pesticide the right one should be used.
Harvesting – Banana grows to maturity from 75 – 80 days. Harvesting bananas are so simple. One of the best ways is to simply cut them off using knife or cutlass. After harvesting your banana, it should be started in a cool dry environment. Remember, bananas are perishable goods so its advisable that immediately after harvesting, it should be taken to the market to be sold.
Business Plan – Before venturing into banana farming, its very important that you have a business plan. A good business plan will attract investors but even if you do not need investors and you are capable of running the business all by yourself, you need a business plan that will serve like a guide. This will embody your vision and mission. A well written banana farming business plan should contain executive summary, competitive analysis, SWOT, financial projections etc. This information will give you the prerequisite you need. To be successful in this business, information is one of those thing that will stand you out because there are some people that are already making fortune from banana farming and if you want to successful too you need to imbibe all the technique and strategy they employed and getting a business plan is part of it.
Facts and Benefits of Banana Farming
Here are some few facts and benefits of banana that you should consider.
1. Over 100 billion of bananas are consumed yearly in the world
2. There are over 1000 varieties of banana species in the world.
3. Banana are composed of about 75 percent water.
4. Banana contain potassium 40 which is a radioactive isotope potassium
5. They are often mistaken for plantain trees
6. They have high weight loss, high fiber, and digestion.
7. They do not grow on trees. They are herbaceous meaning there is no woody stem and they die annually.
8. With its high levels of antioxidants phenolic compounds, they are helpful in preventing kidney cancer.
Hurry now, Get Your Banana Farming business plan in Nigeria. To place an order, pay N10,000 to
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