Millet Farming / Business Plans and Feasibility Study

Millet Farming / Business Plans and Feasibility Study
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Millet Farming / Business Plans and Feasibility Study


Millet Farming / Business Plans and Feasibility Study is here for you. Millet farming can be traced back to Africa and Asian countries where it is said to originate from. In like manner, African countries like Mali, Senegal, Nigeria, Niger and so on produces millet in larger quantities. Countries like India, China and so other In Asian countries are also a major distribution. As a matter of facts, Millet is grouped under cereals crops and also find in the grass family.
Millet Farming / Business Plans and Feasibility Study



Millet Grows Well

In the tropical/semi tropical Millet grows under a dry high temperature that ranges from 20*C to 30*C. The Annual rainfall ranges from 40 cm to 60 cm for optimum growth. Furthermore, Millet will not reach maximum height in cool climate. It can grow up to 41-62 cm height, millet grow best in regions that surrounds Sahara. That is why millet is cultivated mainly in the North in Nigeria. Many are of the opinion that it cannot grow well in the south. But it can be grown in the south with irrigation during dry season since it requires warm temperature to grow well. Besides irrigation millet farming produces bumper harvest.

Uses of Millet

As a matter of facts, Millet is used for feeding livestock and as a source of food for humans. It is very nutritious and healthy too. A recommended food for babies and the elderly. I weaned all my babies with millet after exclusive breast-feeding and it was damn good on them. Millet can be used for pap just like maize. This is to tell you that you have a ready market because babies are born everyday. Beverage companies also use them in making drinks. Millet is costlier than maize, sorghum and guinea corn. In this post you will read how to start a profitable millet farming. From land preparation to marketing.

REASONS FOR MILLET FARMING


  • It is highly demanded
  • Millet is sold cheap as such both the poor and rich can purchase. It is a good source of income
  • Livestock farming is on the increase and many farmers will need it for their animals.

USES OF MILLET


  • Use for food such as porridge
  • It is eaten with milk and sugar, the Hausas call it kunun chafa. In Mali about 40% of cereal eaten is millet while in Senegal it is 65%. Nigeria, Namibia, Niger also eat millet in high quantity.
  • Millet is used for alcoholic production
  • As a feed for farm animals but the contain less dry matter.

HEALTH BENEFITS OF MILLET


  • millet is very high in protein (about 15% higher than other grains
  • Rich in Vitamins B such as niacin, folacin, thiamine, and riboflavin they are all good for the liver. Niacin in millet can help lower cholesterol.
  • High antioxidants; contains important minerals like zinc
  • Millet consumption decreases triglycerides and creative proteins
  • Helps in constipation by rehydrating the colon
  • Good for vegetarians.Millet is a smart carb with lots of fibre
  • Magnesium in millet can help reduce the effects of migraines and heart attacks.
  • Millet is alkaline and digests easily. It is gluten-free and non-allergic. Good for sensitive persons with stomach ulcer.
  • High in iron,phosphorus, magnesium, manganese and potassium
  • Source of essential amino acids, methionine,
  • Reduces cancer risk

LAND PREPARATION


  • Clear the soil of grasses and trees you van use plough to loosen the soil if it is a large commercial millet farming. But for subsistence millet farming you can use spade to loosen the soil. Make ridges if that’s what you but millet can be planted on a level ground. Although millet can grow in a non fertile soil but will rather perform excellently well when the soil is highly fertile with good moisture. Use a well-drained sandy loam soil rich in organic matter.
  • Mix the soil up with manure it could be animal dung or compost to enrich the land for planting.
Millet Farming / Business Plans and Feasibility Study

PLANTING


  • Millet can be propagated either by drilling method or dibbling method. For dibbling 3.5 kg is needed for a hectare while 5 kg is needed for drilling. Planting should be done in late July. Spacing is 40-45 cm within rows and 10-15cm within rows. All the same spacing depends on the variety you are choosing to cultivate.
  • Chose the variety that is suitable to your locality, soil and climate. Because these factors will affect the density of millet your farm can support.. The depth should be between 1-3cm into the soil. Millet germination varies but will sprout within 2 weeks.

VARIETIES

There are many millet varieties including, improved variety;

Hybrid variety can:

  • produces higher than the others
  • Has high disease resistant and
  • Good yield

Unlike other varieties hybrid can withstand

  • Drought
  • Infertile soil
  • Poor soil

Likewise for those using it for fodder, animals gain weight faster with millet when compared with other grains like sorghum. It has better hay on silage.

Ornamental millet example Foxtail millet Highlander, purple majesty. They are ideal for small gardens millet farming because of their attractive appearance.

Finger millet: 

Furthermore, It is cheap and has long storage time. Finger millet is propagated mostly by subsistence millet farmers.

Others are:

  • Golden millet
  • Proso millet

Pearl millet, it is the most commonly planted millet variety in Africa and Asia. It can do well in a less fertile soil and in semi arid impoverished soils.

WEEDING

Weeding should be done at the early stage. Millet is from the grass family as we know so it will not be right to allow other grasses in millet farm because they will be competing for the Same thing.

PEST/DISEASE CONTROL

In like manner, Stem borers and grasshoppers are the major pest. Another bigger pest are birds. The most commonest disease in millet farming is downy mildew. Treat them with fungicides. It is not advisable to use pesticides on the farm for fodder.

IRRIGATION/MANURE

Similarly, Millet cannot grow well where moisture is high. It will rot in a water log area. However, you have to irrigate your millet farm when the soil is dry. For large-scale commercial millet farming use drip irrigation.

The use of organic manure all through millet farming is ideal but inorganic manure can also be use if that’s your choice. Use NPK 30:15:15. Nitrogen should be higher than other nutrients in millet farming. Apply the fertilizer in split doses.

HARVEST


  • When the grains becomes hard with moisture you can harvest them. It should be done on time in other not to allow birds destroy the crops. Birds can attack them immediately after attaining maturity. You can cut the whole plant stand or only the ear head. Dry them under the sun for 5-7 days before hauling them.
  • Millet matures between 60-70 days and can reach 90 days depending on the variety.
  • The yield depends on variety, hybrid can be more than 4 times double that of traditional seeds.

MARKETING

Furthermore, Sell your harvested produce to market traders who are waiting for it. Or you to dealers in grain storage business. Also sale to drinks producers and kunu sellers. Advertise your produce both offline and online.

PLANTING MILLET FOR GRAZING

Similarly, If you are planting millet for grazing, the millet can be grazed when they are about 5-7 weeks after sowing. By this time they should be about 20-30cm high. The reason millet plant should be grazed when young are:


  • It is more valuable when young
  • More palatable
  • And more valuable

Likewise as millet grows, it reduces in palatability and in value. Japanese millet (Echinochloa esculenta) are considered best for grazing because:

  • It is suitable for sheep and cattle
  • Japanese millet is fast in establishment
  • It gives good regrowth and will mature later unlike others
  • Very cheap, the sowing rate is 10 kg per hectare
  • It can be grazed early.

HOW TO PREPARE MILLET POWDER


  • Grind or pound millet seeds by breaking them into pieces
  • Sieve it in other to remove the chaff
  • soak the ground millet in cold water over night. If you use hot water it will turn to black.
  • wash the soaked millet with fresh clean water
  • spread them on flat surface on tray, dry it under the sun for a day
  • Add black gloves,ginger,small yaji and other spices and ground into powder. It is optional anyway but will give it a nice taste at the end of the day
  • sieve again to get rid of any unwanted chaff
  • dry again in other to get the flour completely dry
  • It will become dry greyish powder with favorable scent that will preserve it for months
  • Anytime you want to make porridge, fetch some and make it into a paste just like ogi
  • cook with hot water and add sugar

Finally, Millet farming is not a get rich kind of agribusiness but will sure make you a millionaire in a short while as you keep to it. This grain is an exportable commodity. It is also one of the grains that can be stored for later sales.

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OUR TABLE OF CONTENT INCLUDE;

  • SECTION I – EXECUTIVE SUMMARY
  • NAME OF BUSINESS / COMPANY
  • OFFICE & SITE LOCATION
  • MOTIVATION
  • MISSION STATEMENT
  • SOCIAL/ECONOMIC VALUE
  • PROJECT STATUS & START UP
  • WHY PREPARE THIS BUSINESS PLAN?
  • SECURITIES FOR THE PROPOSED LOAN
  • REPAYMENT
  • SECTION II – STUDY AREA
  • STUDY AREA
  • COMPANY OVERVIEW
  • MANAGEMENT TEAM
  • DEPARTMENTS IN THE COMPANY
  • EXPERIENCE
  • MANAGEMENT TEAM GAPS
  • SECTION III – INDUSTRY ANALYSIS
  • DEFINING YOUR INDUSTRY
  • YOUR INDUSTRY SIZE GROWTH RATE AND SALES PROJECTIONS
  • INDUSTRY STRUCTURE
  • MARKET OVERVIEW
  • MARKET SEGMENTATION
  • RELEVANT MARKET SIZE
  • KEY SUCCESS FACTORS
  • LONG TERM PROSPECTIVE
  • MARKET CHARACTERISTICS
  • SAMPLING TECHNIQUE
  • SECTION IV – CUSTOMER ANALYSIS
  • TARGET CUSTOMERS
  • CUSTOMER NEEDS
  • MARKET NEEDS / SOCIAL PROBLEMS AND SOLUTIONS
  • BUYERS BEHAVIOUR
  • MARKET SHARE
  • SALES FORECASTING
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  • DIRECT COMPETITORS
  • COMPETITIVE ADVANTAGES
  • SECTION VI – MARKETING PLAN
  • PRODUCTS & SERVICES
  • FINISHED PRODUCTS
  • PRODUCT QUALITY AND PRODUCTION QUANTITY
  • PRODUCTION CAPACITY
  • PRICING
  • PROMOTIONS PLAN
  • DISTRIBUTION PLAN
  • SECTION VII – OPERATIONS PLAN
  • GENERAL APPROACH TO PRODUCTION
  • TECHNICAL ANALYSIS / PRODUCTION PROCESS
  • EQUIPMENT
  • PACKAGING REQUIREMENTS
  • SECTION VIII – FINANCIAL PLAN
  • REVENUE MODEL
  • FINANCIAL ANALYSIS
  • FINANCIAL ASSUMPTIONS
  • FINANCE CHARGES
  • FINANCIAL PROJECTIONS
  • FUNDING REQUIREMENTS/USE OF FUNDS
  • CRITICAL ASSUMPTIONS



  • FINANCIAL MODELS
  • SUMMARY OF PROJECT COST
  • BUDGET OF FIXED ASSETS / CAPITAL EXPENSES / INVESTMENTS
  • DEPRECIATION
  • UTILITIES
  • OPERATING EXPENSES (OPEX)
  • TOTAL REQUIRED INVESTMENT OUTLAY (REQUIRED START-UP CAPITAL)
  • FINANCING PLAN
  • INSTALLED / AVAILABLE EQUIPMENT
  • BREAK-EVEN ANALYSIS
  • LOAN REPAYMENT SCHEDULE AND INTEREST PAID
  • FORECAST OF PROFIT AND LOSS
  • CASH FLOW
  • BALANCE SHEET
  • GENERAL ASSUMPTIONS (BREAK EVEN ANALYSIS)
  • BUSINESS RATIOS - PROFITABILITY ANALYSIS
  • CONCLUSION
  • SECTION 3 – APPENDIX

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·         NOTE; According to our policy, we are not “allowed / permitted” to disclose peoples business or written feasibility study, “to anyone”, irrespective of their personality.

·        BUT, WE are permitted to display only executive summary.
·         This is just a sample of our executive summary on poultry feasibility study and business plan, carried out in Rivers State. 

·         1st sample;

These Feasibility study on poultry farming business (specializing on layers and boilers production), was conducted using projections, impressive publications, compounding interest/values, tables, graph, bar chart, pie chart, profits analysis and cash flow positions in other to give a clear picture of what is obtainable in that location, using eight plots of land, at Esemdiary village, Off Effurun Sapele Road, Okpe LGA of Delta state, Nigeria as a case study. 


Esemdiary village is a community in Okpe Local Government Area of Delta State with coordinates 05°26’N 5°57’E, which also plays the host community to the Warri Airport, which is actually located at Osubi. 


Okpe Local Government is a territory that used to be part of the original Okpe Kingdom, its headquarters is at Orerokpe, with a population of 128,398 people whose primary occupations include commercial farming, fishing, hunting, trading and gas exploration. 


After carrying out the feasibility study on Esemdiary village, Off Effurun-Sapele Road, Okpe LGA of Delta state, Nigeria, it was discovered that, farming generally will do well both on crop and animal production.

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