About this campaign
ACAF and its partners launches
SUPPORT FOR THE SUSTAINABLE DEVELOPMENT OF CASTOR FARMING AND OIL PROCESSING EFFORTS IN THE REMOTE RURAL AREAS OF NIGERIA
A survey of over 600 Castor Beans farmers in Nigeria.
In association and partnership consideration with:
Enugu State Government
Abia State Government
Ebonyi State Government
Kwara state Government
Abuja, FCT Authority
Akwa ibom state Government
Imo State Government
Delta State Government
Ogun State Government
Anambra State Government
Use of Funds
Castor Beans farming estimated budget for 1hectare of Castor farm:
1. Clearing (virgin fields) - 250,000.00
2. Ploughing and harrowing - 100,000
3. Soil treatment, Weeding and planting - 170,000.00
4. Seeds - 87,500.00
5. Harvesting - 70,000.00
Total - 677,500.00
Therefore, total required by each registered and certified Castor farmer will be approximately 680,000 Naira only. An equivalent of $1,431.5 only to cultivate one hectare of Castor Beans farm.
Expected yield from just one hectare of Castor Beans farm: 5-7 tons
Selling price of Castor Beans per ton in the global market: 350k-550k
Total expected returns is between 1.750million Naira and 2.750million Naira
An equivalent of $5,789.4 is returned within 7 months.
ACAF needs at least $858,900.00 to set up 600 "UGBO OGIRI" demonstration farms in 10 states of the federal republic of Nigeria i.e. 60 pilot Castor Beans farm project for each state.
About $141,100 will used for the general procurement of Castor shellers and oil extraction machines.