A Guide to Venture into Rice Cultivation and Processing
The Rice farming business is one of the most profitable businesses to endeavor into. The reason is it is the most consumed staple food in the world, especially in Asia and Africa. And not to forget rice is the third-highest produce worldwide after sugarcane and maize. Despite the consumption rate, the agriculture industry is the third-best viable industry in the world after oil & gas, and the technology industry. Rice is food to many people in most of the nations and it’s also popular in homes, events, and public places. Especially since the rise of new technological innovations that have helped to make the food production process easier. There will always be a market for the food item you produce as long as the people in that location are familiar with the food and following that the rice market is not going anywhere and is expected to even increase more with the increasing population. This is just a brief report from the book of NPCS, which provides information to numerous industrialists and entrepreneurs to help them in starting their business and give a high return on investment.
Related Projects: – Rice and Rice Based Products, Value Added Products of Broken Rice
Create a business plan
Rice cultivation needs proper planning and conducting a feasibility study. One of the best ways to consider every aspect of the business is by making a business plan. Your plan should include all the important points like the capital used, the site, and the location of the farm. A good business plan will be a guide on the steps to make the vision achievable.
Related Books:- Rice Cultivation And Processing Industry, Manufacturing Of Value Added Products From Rice Husk (Hull) And Rice Husk Ash (RHA)
Registration of your business
Once you have made the plan, the next important thing to do is to register your business. You will have to register your business with several agencies. You need to complete the process legally and follow all the steps provided.
Related Projects: – Rice Husk, Rice Hull, Rice Husk Ash (Agricultural Waste) based Projects,
Keep an Eye on Trends
If you want your business to grow rapidly it is important to focus on trends and actually what is going in the market for this industry. The production of rice in India was 172.8 million metric tons in 2018 and is expected to reach a CAGR of 2.7% during the forecast period, 2020-2025. A report by NPCS found out that the Indian domestic rice market has grown at the CAGR of above 4% in the last five years and it is just growing since then which has made a lot of entrepreneurs enter in this industry.
Related Books: – Handbook on Rice Cultivation and Processing
Start the cultivation process
Cultivation of rice cannot be done short-term; it is a long process that needs time. In terms of starting your business, you can start sourcing for good rice seedlings to plant the rice in a rice bed and then transplanting it into the farmland after two or four weeks. The land should be such where there should be a constant supply of water in large quantities, as the seedlings need water constantly especially during the early few weeks.
Related Videos: – Rice Husk Based Projects
Marketing
The next step should be to focus on customers and for that, the marketing of your business is important, once your rice grains are ready to be sold, you need to package them for sale and consumption. Make sure while packaging you have your logo, farm address, your brand name. You can also take the help of social media by posting pictures of the cultivation process or by making a website to book the orders.
Related Videos: – How to Manufacture Rice Husk based Products
Conclusion
Rice farming is a very profitable business to venture into. NPCS provides you the book “Handbook on rice cultivation and processing” to help you master the rice cultivation business. Books by NPCS are formulated by highly accomplished and experienced consultants, who do thorough research on each industry to provide you the best help.