How Farmers Can Make N400bn From Soybean Production
By Steve Agbota
NIGERIA’S domestic production of soybeans is no doubt trending upwards but there is still a shortfall in supply to demand due to heavy usage of the commodity by the livestock industry. With rising demand in the poultry industry, and for human food formulations, it is estimated that farmers can earn over N400 billion from the commodity.
Soybeans crushers in the country are operating below capacity and are unable to satisfy the rising demand for soybeans meal and oil. Growing commercial utilisation of soybeans in human food and animal feed sectors has created domestic supply gap leaving massive opportunities for investments in production of the commodity.
In Nigeria, soybeans cultivation starts May/June with land clearing and harvesting normally occurs in late October through November every year.
The crop is harvested three to four months after planting, depending on the time of sowing and seed variety. Benue State was said to be the dominant soybeans producing area but several other states in the North and Middle Belt also produce soybeans.
However, states in the Southwest and Southeast can also produce soybeans when rains have reduced significantly. Coordinator, Community of Agricultural Stakeholders of Nigeria (CASON), Sotonye Anga, last year said the demand for soybeans in Nigeria was about N300 billion. Read more…
Culled from The Sun