For him, castor farming is easy and every young person may begin it : "get a land, either purchased or leased, clear your land and start your planting processes".
He kindly share with us twenty-one (21) facts we need to know before we go into castor farming in Nigeria.
1. Castor can do well on nominal lands not usually suitable for other crops.
2. Castor can not do well on waterlogged lands.
3. There are insects, pests and viruses worrying castor plants but there are effective chemical and organic pesticides suitable for protection ; it cost more to be at the fighting side.
4. Nigeria has one of the best lands for castor plant in the whole world spread everywhere.
5. The oil contents of the castor seeds varies with the specie of the castor plant.
6. Castor plant has many varieties. For example, we have Brazilian white specie, Indian specy and the Israel specie.
7. Very tiny variety seeds are normally very rich in oil contents but very difficult to shell.
8. Castor oil price is over 300 % higher than crude oil.
9. Growing a castor farm less than two and half ares may not produce quantity of seeds needed to attract competitive buyers.
10. If you want to invest one (1) hectare of castor, you need like $300-$500.
11. Harvesting starts in six (6) months after planting.
12. It is possible to have good harvest up to two (2) tons of castor seeds per hectare at the first year if the farm is properly maintained.
13. You may sell your harvested seeds to Commodity buyers or directly to industries.
14. A ton of castor sells between 350,000 Naira to 550,000 Naira depending price of naira to dollar exchange and the variety of castor. The price per ton currently is $1,200.
15. The harvest lasts seven (7) years. It is done twice in a year.
The evolution of the market
16. Currently, there are over 150 products using castor. Scientists and engineers are using it for more newer products daily.
17. Farmers may not be able to grow enough seeds for Nigeria factories and industrial consumption for the next 10 years because the benefits of castor oil is increasing everyday.
18. Nigeria may top the list of castor producers in Africa in the next ten years.
19. In the next 3 years, Nigerian industries and castor buyers may start to test oil contents of castor and pay farmer according to the richness of oil.
20. Year by year, researchers are still coming up with new varieties that are richer in oil.
21. Consumption of unprocessed castor plants is dangerous to animals and humans.
So, what are you waiting to begin castor farming ?