People underestimate the great opportunity of making a viable profitable business on pawpaw farming.
Let’s talk through amazing ways in which you can start papaya farming and make great profits.
A papaya/pawpaw is a fruit from a pawpaw plant scientifically known as carica papaya in the genus caricae.
Pawpaw plants are among the fast growing fruit crops that take short time to attain maturity.
It takes between 6-9 months for one to start harvesting.
Harvesting will continue after that all through the year.
After you start harvesting, they will continue producing fruits throughout 3 to 5 years if well taken care of.
An acre of land takes between 1000 to 1200 plants of papaya.
A papaya plant produces between 40 to 50 fruits.
Yields of 40,000 to 60,000 fruits per acre are common.
In Nigeria, a single papaya fruit ranges between ₦50 to ₦100 (wholesale price).
Now, let’s work with a standard one acre with 1000 plants.
Let’s take ₦50 as the standard price and yields of 40,000 from an acre.
Your revenue at the end of sixth month would be ₦2,000,000 (₦50 x 40,000).
Then, let’s assume you harvest for just three years, do the math!
Next, what does it cost to farm papaya in an acre of land?
Assuming that the piece of land is yours or leased.
* Land lease & preparation = ₦100,000
* 1000 hybrid seedlings @ ₦100 each = ₦100,000
* 1000 holes and planting @ ₦20 each = ₦20,000
* 2 Lorries of manure @ ₦10,000 each = ₦20,000
* Labour, assuming it’s ₦10,000 per month = ₦120,000 per annum
* Fertilizers, insecticides and other inputs = ₦120,000
* Water (estimated per year) = ₦40,000
* Miscellaneous expenses = ₦50,000
* Harvesting/Marketing expenses = ₦50,000
* TOTAL COST will be ₦650,000
Then, compare your revenue and cost, you will realize a whopping profit of ₦1,350,000 within a year, provided proper farm practice and management is adopted.
You may need to consult some big fishes in the industry or seek the help of agribusiness experts or successful famers who are already well-established in the business.
One more thing, the greatest question that may be bothering your mind is, “where do I sell these fruits?”
The answer is simple, start your farming right from the market, by first seeking out time to puzzle out your desired target customers and ask them which species of papaya is fast selling in the market.
Potential markets for papaya include malls, retail stores, grocery stores, fruit processing companies, eateries, fruit dealers/sellers or conveying your outputs to major fruit markets in your locality.
You may also come up with creative means of marketing your produce.
You don’t always need to rely on the traditional ways of selling like going to the market and waiting for people there.
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The Merciful Merchants