How to Start Castor Seed Farming in Nigeria
How Nigerians can make money from Castor seed farming.
Over 30bn worth of Castor oil is imported into from India alone into this country every year while Nigerians watch as foreigners come into the country to collect money in raw cash, with arable land suitable for Castor seed farming.
Castor (Ricinus communis) is a seed cultivated round the world because it’s oil and the commercial uses of oil derived from the seed.
Opportunity is numerous and Castor farmers could earn up to 50m on ten hectares of land over a period of 7 years.
Uses of Castor oil
Because of its tremendous demand from critical industries the current consumption and it’s derivatives in the local domain is put at 300,000 tonnes.
Castor oil can be used in paint, jet engine lubricant, polishes, perfumes, soaps, hydraulic brake fluid, pharmaceutical and cosmetic products also.
Potentials castor farmers are advised to seek expert advice before venturing into it who will teach you how to get good seed and marketing it.
Castor oil could be sold to electric companies, textile industries, paint Industries, aviation industries and pharmaceutical companies just to mention a few.
Castor is a 7 years plant and the current price of 1 tonne is about $800 – $1,200 depending on the kind of species you plant, which means you harvest about 15 times for 7 years. Castor is harvested twice in a year.
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That’s interesting and seems good. What is the market size for Castor Seed in Nigeria and where can someone possibly sell the seeds after being harvested? Are they special types of soil and climate required to grow Castor Seed in Nigeria? Apart from the things you mentioned, what are other uses for Castor Seeds in Nigeria? What products can be made from or is made from castor seeds?
Pls kindly help us with these answers so that it will assist would be Castor farmer in Nigeria to make proper decision as to what to expect.
The size of the market is big because of its numerous uses. Castor seed has 1002 uses and as for types of soil, castor grows well on all soil types expect swampy soil.
I represent (CASPGMAN) Castor growers processors marketers association of Nigeria, South West.