Cost of Soybeans Farming per Hectare in Nigeria
Cost of Cultivation Soybean per Ha | |||||
Description | Brand | Units | Quantity | Rate per (Bag/Kg/Ltr) | Total Cost/ha |
Seeds | TGX 1448 2E | Kg | 30 | ₦750.00 | ₦22,500.00 |
Land clearing | Glyphosate | Liter | 3 | ₦3,700.00 | ₦11,100.00 |
Herbicide pre-emergence | Butachlor | Liter | 2 | ₦3,100.00 | ₦6,200.00 |
Herbicide Post emergent selective | Twig | Gram | 10 | ₦700.00 | ₦7,000.00 |
Insecticide | Vanguish | Liter | 1 | ₦3,000.00 | ₦3,000.00 |
Innoculant | Nodumax | 10 Gram | 5 | ₦1,500.00 | ₦7,500.00 |
Micronutrients | Tecamin max | Liter | 1 | ₦5,500.00 | ₦5,500.00 |
NPK | ₦0.00 | ||||
UREA | ₦0.00 | ||||
SSP | SSP | 50 KG BAG | 4 | ₦13,000.00 | ₦52,000.00 |
Total Input cost (Naira) | ₦114,800.00 | ||||
Ploughing | N/Ha | 1 | ₦15,000.00 | ₦15,000.00 | |
Harrowing | N/Ha | 1 | ₦15,000.00 | ₦15,000.00 | |
Total Hiring cost (Naira) | ₦30,000.00 | ||||
₦144,800.00 | |||||
The cost of soybeans production per hectare is shown as follows:
- Cost of soybeans seeds: ₦22,500
- Land Clearing: ₦11,100
- Pre-Emergence Herbicide: ₦6,200
- Post-Emergence Herbicide: ₦7,000
- Insecticide: ₦3,000
- Innoculant (Nodumax): ₦7,500
- Micronutrients: ₦5,500
- Fertilizers (SSP Fertilizers): ₦52,500
- Ploughing: ₦15,000
- Harrowing: ₦15,000
- The total cost of soybeans farming per hectare is expected to be ₦144,800
Notes to the cost of soybeans production per hectare in Nigeria
The following are the items in the cost analysis of a 1 hectare soybeans farm:
Seeds
The cost of soybeans per hectare is ₦22,500.00. The preferred variety of soybeans seeds to plant is TGX 1448 2E.
Land Clearing
Glyphosate herbicide is expected to be used for land clearing and killing of weeds. The cost of land clearing is expected to be ₦11,100.00.
Pre-Emergence and Post-Emergence Herbicide
The cost of pre-emergence herbicide per hectare of soybeans farming is ₦6,200 and the cost of post-emergence herbicide for soybeans farming per hectare is ₦7,000.
Insecticide
The cost of insecticide for soybeans growing per hectare is ₦3,000.00
Innoculant
Nodumax is the preferred inoculant for soybeans farming. The cost of innoculants for one hectare of soybeans farming is ₦7,500.00.
Cost of Micronutrients and Fertilizers
Single Super Phosphate Fertilizer (SSP) is the preferred fertilizer for soybeans farming because of its high phosphorus content. The cost of fertilizer for one hectare soybeans farm is expected to be ₦52,500 while the cost of micronutrients is expected to be ₦5,500.00.
Ploughing and Harrowing
The cost of ploughing a 1 hectare farm of soybeans is ₦15,000.00. The cost of harrowing a 1 hectare of soybeans farm is ₦15,000.00.
How profitable is soybeans farming in Nigeria
Soybeans farming is profitable if done the right way. The Returns on Investment (ROI) on soybeans farming can vary from 50% to over 300%.
The prices of soybeans vary all through the year. At some times in the year, the price of soyabeans can increase by as much as 200%. At the harvest time, prices of soybeans usually dip because of the glut in the grains market.
Do you grow soybeans? If yes, why not share the cost of your soybeans farming venture with us in the comments’ section.
Please read our post on yield of soybeans per hectare
