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

Soybeans producing states in Nigeria

Best fertilizer for soybeans farming

Best month to plant soybeans

Ayo Akinfolarin
 

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