Looking for a feasibility study for Soybean farming Business in Nigeria for your new or existing enterprise?
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Soybean farming in Nigeria and Africa at large is a relatively new but rapidly growing industry. Soybeans are a type of legume that is high in protein and oil and is used for a variety of food and industrial products. In Nigeria, soybeans are primarily grown for the production of oil and animal feed.
To start soybean farming in Nigeria, the following steps can be taken:
- Conduct research: Understand the market for soybeans in Nigeria, the best practices for growing soybeans and the best varieties for the local climate.
- Obtain land: Acquire land suitable for soybean farming, with good soil and adequate water supply.
- Get funding: Obtain funding for the purchase of seed, fertilizer, and other necessary inputs.
- Purchase seed: Purchase high-quality soybean seed from a reputable supplier.
- Prepare the land: Clear the land, plow and harrow the soil, and apply any necessary fertilizer.
- Plant the seed: Plant the soybean seed according to the recommended planting density and spacing.
- Care for the crop: Monitor the crop and provide necessary care, such as irrigation, pest and disease control, and fertilization.
- Harvest the crop: Harvest the soybeans when they are mature and dry, using appropriate equipment.
- Process and market the soybeans: Process the soybeans to extract oil and meal, and market the products to buyers.
It is important to note that soybean farming in Nigeria is still in early stages of development, and the farmers face a lot of challenges like lack of access to improved seed, fertilizer, and other inputs, lack of access to credit, and inadequate infrastructure for storage, processing, and transportation.
FEASIBILITY REPORT SAMPLE FOR SOYBEAN FARMING
1.0. Executive Summary
Tom Soybean Farms is a commercial farm situated in Ilorin, Kwara State, that would engage in commercial soybean farming as well as soybean processing and packing. We were able to obtain adequate property for the establishment of our commercial soybean farm, and we conducted extensive market research and feasibility studies.
We have preparations in place that will allow us to open a typical soybean processing plant during the first five years of Tom Soybean Farms’ formal operation. We will process and package soybean meal, oil, and hull, among other things, and ensure that they flood the market.
We have implemented methods and strategies to implement best practices in soybean farming, soybean meal, soybean oil, and soybean husk processing and packaging.
Mr Tomiwa Olatunji and his immediate family members own and fund Tom Soybean Farms. Before establishing Tom Soybean Farms, Tomiwa Olatunji worked for some of Nigeria’s biggest commercial farms and food processing factories; he holds a Bachelor of Science (B.Sc.) in Agriculture Science from the University of Ilorin.
2.0. Our Products and Services
Tom Soybean Farms is a world-class commercial farm dedicated to growing both organic and non-organic soybean for the Nigerian, African, and global markets. We are in the business of providing commercial amounts of food and raw materials to customers and industries.
These are the regions where we will concentrate our efforts on our farms. We will cultivate allied crops as necessary.
Standard soybean processing facility in operation
3.0. Our Mission and Vision Statement
Our goal is to become one of Nigeria’s and the world’s leading commercial soybean farms and soybean processing brands.
Tom Soybean Farms is a world-class soybean farm that produces large amounts of soybean for both the Nigerian and worldwide markets.
We aim to flood Nigeria and other nations with our well-packaged soybean meal, soybean oil, soybean husk, and biofuel, among other things.
4.0. Our Organizational Structure
Tom Soybean Farms plans to start modestly in Ilorin but expects to develop large enough to compete well with Nigeria’s major commercial soybean farms. We understand the need of establishing a sound company structure capable of supporting the type of world-class enterprise we aspire to own.
We will recruit people that are knowledgeable, competent, industrious, devoted, customer-centric, and eager to help us establish a thriving business that will benefit all stakeholders.
Given the foregoing, we have chosen to hire skilled and capable individuals to fill the following positions:
Chief Executive Officer
Administrator/Accountant for the General Farm Manager
Manager/Supervisor of Soybean Cultivation
Sales and Marketing Executive Field Employees Soybean Processing and Packaging Plant Manager
5.0. SWOT ANALYSIS
Our strength is that we have some of the most recent commercial farming machines, tools, and soybean processing equipment, which will allow us to cultivate soybean in commercial quantities with less stress, as well as a strong network with a number of major players in the commercial farming industry.
Aside from our relationship (network) and equipment, our personnel includes some of the most experienced hands in Ilorin.
Our drawback may be that we are a new soybean farm in Nigeria, and the fact that we have opted to broaden our farming activities may work against us at first. With our forecast, we will overcome this deficit over time and transform it into a business advantage.
Biodiesel is made by organic chemical producers from soybean oil and other vegetable oils. Increased demand for soybean oil leads to increased supply and demand from oilseed processors, resulting in higher pricing. The need for organic chemical manufacture is expected to rise in the following year, creating a significant opportunity for the sector.
Government policy, like any other enterprise, poses a challenge to soybean producers. Soybean agricultural subsidies are likely to diminish in the following year, creating a significant danger to the sector.
6.0. Our Target Audience
Our target market consists of soybean consumers and manufacturing enterprises that use both soybean food and raw materials in commercial amounts.
We will export some of our soybeans, soybean seeds and meal, soybean oil, soybean husk and biofuel, and other products in order to position our company to attract customers from Nigeria and other areas of the world.
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How To Download Feasibilty Analysis SoyBean Template PDF and Doc (With financial analysis)
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P.S: We can also tailor the feasibility study for Soybean farming to your name, business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.