How To Start A Profitable Groundnut Farming Business

Groundnut as a crop is high in demand because of its usefulness to the country’s economy and proteinous value for human and livestock consumption. The Groundnut Farming Business is very lucrative in Nigeria because of its benefits.

Groundnuts can be processed and used for making varieties of other products such as peanut butter, chocolate candy, groundnut cake, groundnut oil, peanut butter, etc. Peanut farming takes about four(4) months to mature and can be cultivated twice in a farming season.
Let’s look at the steps to take to start a lucrative groundnut farm business.

Steps For Starting The Groundnut Farming Business

Groundnut Farming Business
Groundnuts

You need to first to:

Purchase a Farm Land

You can get a good plot of land on the outskirts of town or in rural communities in Nigeria for a good price of about ₦300,000 (this applies to most states in the country). You can seek the service of one or two locals and pay them to help clear and drain the land.

Till the Soil

You can either do it yourself and save some money or you hire workers to do it for you for a token. Either way, the land has to be tilled if you are indeed serious about your groundnut farming business.

Purchase Groundnut Seeds

Groundnut Farming Business
Groundnut Farming Business

Once you have gotten your farmland cleared and well-drained, the next step in your groundnut farming business plan is to purchase groundnut seeds. You can always get groundnut seeds for sale at the market if you don’t have any. The number of Seeds you will buy depends on the size of your farmland. You can get seeds for about ₦200 depending on the part of the country your land is sited.

Plant Your Seeds

Groundnut Farming Business
Groundnut Seeds

The best time to plant your groundnut seeds is in March when there must have been rainfall on the land. When planting, give space for at least 30cm for each Seed to yield a good crop.

Weeding The Groundnut Farm

Weeding normally occurs when the plant starts growing after four weeks. You can clear the unwanted plants growing around the groundnut and still use it to serve as a natural fertilizer for the plant.

Harvesting Your Groundnuts

Groundnut Farming Business
Groundnut Pods

If you plant in March, harvesting should be around June or July if you want the groundnut to mature very well. If all goes well, you should be able to harvest about 100 large bags of groundnut.

Storage and Sales in the Groundnut Farming Business

Once you are done harvesting, the final step is to store the groundnuts in a cool and dry place. Your next assignment is to find out how much a bag of groundnut is sold in the marketplace.
Let’s say a bag of groundnut sells at the price of ₦5,000 and you have a hundred(100) bags harvested. So ₦5,000×100 — ₦500,000
Subtract other expenses made and the money invested, and your profit will still be a reasonable amount.

And this is only for the first three to four months, imagine what you will make in the other quarter of the year; this is not a bad investment I must say. So what are you waiting for? Get started!

FAQs On Starting a Groundnut Farming Business

Peanut Farming business
Peanuts

How many months does it take groundnut to mature?

Groundnut takes about 4-5months to mature before it can be harvested. At this time, the groundnut pericarp starts turning dark from the inside as the pods have matured.

Which month is best for planting groundnut?

The best time to plant groundnut is early November and the second planting season comes around March. Planting groundnuts during other seasons than this will result in a significant drop in yield.

How many peanuts do you get from one plant?

A single groundnut plant can produce between 25 and 50 peanuts which may be about 36 inches in diameter and 18 inches tall.

Which soil is best for groundnut?

Groundnuts grow best in sandy loam soil with less than 15% clay. The plants need well-drained sandy loam or clay loam soil with a pH of the soil from 5.5 to 7. The soil should also have a high fertility index. Heavy soil is not suitable for the groundnut farming business as it makes harvesting difficult and results in pod loss.