There are varied opportunities and potentialities to be accessed in agriculture, however, it’s recommended to choose an agribusiness idea or venture to invest in which is an intersection of your natural personality and growing market demand.
Also, there are capitals out there ready to back investments in the right agribusiness idea. For instance, the Nigerian Federal Government plans to inject $3.2 billion to the Bank of Agriculture which is intended to give out loans to farmers and food processors. There’s also private capital out there available to agropreneurs or savvy agribusiness entrepreneurs!
After a thorough and careful analysis of the trends and demand gaps that currently exist in the agribusiness sector, this article has made a compilation of the best investment-grade agribusiness ideas you should consider investing in this year:
Drones are everywhere and from the looks of things, they are going to be around for quite some time. Drones can also be deployed in agriculture for farming activities like spraying, and monitoring farmlands from the air for patterns.
Farmers in their dealings have to analyze a lot of data and information as part of their job.
They have to make decisions after accurate analyses of a lot of agricultural variable factors like rainfall conditions, underground water concentration, temperature, harvest yields, commodity prices, etc.
An analytics software or app that can ease decision making and present data variables in an easy-to-understand format for farming would be of great help to farmers because modern farmers now see information or data as an integral part of farming.
Agriculture, like any other business, involves risks, and knowing a way to analyze the risks concerned in farming and springing up with innovative agricultural insurance product and solutions to mitigate and buffer these risks will be an honest agribusiness idea for Nigerian Entrepreneurs to consider this 2019.
Digital Information Center for Farmers:
Farmers need information all the time. They want to know where to get the best varieties of seeds, where to buy the best feed ingredients and so much more.
While this data can easily be gotten from Google, it also comes with a lot of irrelevant search results which may confuse a lot of farmers.
As such, farmers would like to have their own dedicated data center where farming enterprise queries can be answered.
The quality of food or farm produce grown is directly proportional to the quality of seed used in its planting. Also with the outcry against GMO farm produce, a center or business committed to producing quality seedlings which are resistant to disease and safe for human consumption would be a good agribusiness idea to consider.
The use of chemical fertilizer on crops has been known to cause groundwater contamination and leave traces of toxic chemicals in food that aren’t safe for human consumption.
Organic fertilizers that are well-packaged and free from harmful pests and chemicals would be received by farmers and food enthusiasts.
Automation is a trend that’s here to stay and it would improve productivity in businesses and industries albeit with the loss of many jobs. Many processes that occur in the farms such as manual feeding, manual drinkers, etc.
can be made automatic by robots so as to boost farm productivity and gain.
Battery Power for Farms:
A regular power supply is still a challenge for farmers in Nigeria. Many farm operations need electric power that isn’t too expensive to obtain.
An inverter system or rechargeable power battery bank specifically designed to power dedicated farming operation like pumping water, illuminating the animal pen, etc. would be a very good product/ agribusiness idea.
Snakeskin fashion items and accessories like bags, belts, shoes, purses, etc. are in very high demand and they command a good price. A snake farm which produces snakeskin for producing these fashion accessories will be a good agribusiness idea for 2018.