Profitable Business Idea: It is estimated that by 2050 India’s population will reach 1.64 billion and feeding such a huge population is going to be a challenge. Due to urbanization & industrialization, we are losing arable land every day. Going by this scenario, that day is not very far when fruits & vegetables will be grown in factories instead of fields.
With this, a new type of Israeli technology is getting popular in developed countries. This is called vertical farming. That is, farming in many layers, but not on the ground, above the ground. While field and greenhouse takes space, this alternative saves it. You can even do this farming on barren land. A similar project of a company (A S Agri and Aqua LLP) was inaugurated by Nitin Gadkari in Maharashtra recently, where Turmeric is being grown through vertical farming.
Turmeric is not only used in food in homes, but it is also used extensively in cosmetics and pharma industry. You will be surprised to know that with this technique you can get 100 acres of production from only 1 acre and earn about 2.5 crore rupees (profit in Vertical Farming) from turmeric cultivation.
Advantages of Vertical Farming:
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Year-round crop production
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Eliminates agricultural runoff
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Significantly reduces use of fossil fuels (farm machines and transport of crops)
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Makes use of abandoned or unused properties
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No weather related crop failures
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Offers the possibility of sustainability for urban centers
Yield & Cost Profit Analysis:
If we assume that one acre is being cultivated and 11 layers of containers are set up, as is happening in a project in Maharashtra. In such a situation, about 6.33 lakh seeds can be planted in 1 acre.
With this technique, an average yield of 1.67 kg can be obtained in a plant i.e. your yield per acre will be about 10 lakh kg (about 1100 tonnes). This turmeric has to be processed before it can be sold. It is first boiled, then dried and polished.
After drying, you will be left with 250 tonnes of turmeric. Now if the price of your turmeric is even Rs 100 per kg, then your turmeric will be sold for Rs 2.5 crore. Even if the cost of seeds and fertilizers etc. is assumed to be Rs 50 lakhs, then a profit of Rs 2 crores.
NOTE: For the first time, there will be a huge expenditure on infrastructure, but that can also be recovered in a maximum of 2-3 years!
