Farming involves cultivation of crops, raising of animals and ensuring that it gets to the market for users. For profitable farming, two things are important: Productivity and market. Productivity is linked directly to output or yield of crops. Good Agricultural Practises will help farmers to achieve high output be it crop or animal production. Also, good agricultural practises ensure low production costs (wastage is not allowed or minimised to the barest minimum)
Also, good agricultural practises ensure low production costs (wastage is not allowed or minimised to the barest minimum)
Market is the second factor. Farmers ability to secure or access reliable markets will go a long way to ensure profitable business. It is sad that our market is very porous and farmers are very discouraged to sell especially vegetable/arable farmers. However, for farmers that are into tree crops such as cocoa, cashew, mango, orange etc have a different experience. Is farming really profitable? This depends on individual reality. In my view, arable crop farmers do not see farming as a profitable business, tree crops farmers would say otherwise while those raising animals would say Yes. It’s very important to constantly talk about agribusiness.
Babatunde Olarewaju ( Lead Strategist at FutuX Agri-consult Limited)