ARMINigeria:
It is a popular belief that after the Oil and the Telecommunication sector, Agriculture is the next most rewarding business. This cannot be disputed seeing the calibre of billionaires and millionaires residing in the agric-business.

The fact that agric-business is so broad makes the stage accommodate as many zealous prospects as possible. The opportunities in the business ranges from Production, Marketing, Processing, Mechanization (Value chains) and so on.
In the agric-business, production has been the easiest to venture into. However, it possesses the highest of risks. There is where 70% if agric business men seek refuge. From our experience in production, the least riskiest investments are cassava farming, Piggery, Plantain farming Apiculture, among a few others.

Of the aforementioned, plantain farming seem to have the least risk because of its perennial cultivation practice. And remains among the most profitable agric business in the world with a broad value chain. Plantain farming is so lucrative that it is very difficult to find an article online talking about the risks involved in the production of plantains.
This article is dedicated to analyzing the likely risk in plantain farming and tips in managing such risks. The United States Department of Agriculture (USDA) Economic Research Services (ERS) categorize Agricultural risks into:
- production risk
-price if market risk
- financial risk
- institutional risk
- human or personal risk
Our focus will be mainly on Production and Price market risks and how to manage them.

PRODUCTION RISK
This originates from the deviation of the normal growth of the crop during cultivation. It can be due to diseases, weather, pests, substandard inputs- which includes infested suckers, poor irrigation and unacceptable agronomic practices.
The mitigation of Production risks are the most difficult as most are unexpected and, or natural. Examples are pest diseases and weather; although, they can be anticipated or forecasted. The other problem are however man-made. That is, relating to agronomic practices. Use of infested suckers, poor irrigation, substandard inputs, inadequate inputs and technical know-how are the few examples.

PRICE OF MARKET RISKS
The Price of market risk is the most irritating risk in plantain business, or probably Agricultural business generally. This occurs when a farmer has duly cultivated his Plantain farm, have good yield and have followed the best agronomic practices; BUT CANNOT SELL his produce.
Inability to sell produce can be due to glut in the market. A situation where there is excess supply of a produce and low demand for it. Producers will refuse to drop their price and consumers would refuse to purchase from the producers. This forces the two parties to force equilibrium of Demand and Supply.
In other times, the inability to sell can be as a result of a group of people dictating the price the producers must sell by inciting the marketers. Take the nation Nigeria as a case study. There are Unions in almost every trade (Trade Unions). There are the Fish Sellers Union, Pepper Sellers Association, Market Women Association, to.mention a few. These trade Unions dictate the market pricce to both the producers and marketers. Leaving the producers to decide whether to sell or not.

MANAGING RISKS IN PLANTAIN FARMING
Here are some of the best ways to manage risks in plantain farming. Note that the best tip ever is to get the best agronomist.
1. Best Agronomic Practice: anyone not ready for the financial implications involved in setting up a plantain plantation/farming should not venture ab initio. It is time, finance, energy and knowledge consuming. Avoid agronomists who make noise on social media and stake claims on theory and speculations. Try checking out their farms substantially (not pictures) and hear from few of their clients as well. On the other hand, investors/clients should not encourages agronomist to manage fund at the detriment of the planting program or operation.

2. Quality inputs: it is no longer story that fertilizers, insecticides, herbicides, fungicides, planting materials and other farm inputs are sub-standard in this country (Nigeria). However, there are still certified input producers or suppliers within the country. Some good agro organizations can link you up if you approach them.

3. Price of Market the most successful men in the agric industry control their market and determine their product price. They make use of what is called Market contract of Forward contract. It is also popularly known as off-takers in this part of the world. Perhaps, dealing with Off-takers comes with its own challenges. We shall be looking at some of those challenges in our next edition. Market or Forward contract is identifying your market before production, have a formal agreement with your Market (this must be done before planting of production).
The prices are agreed and the quantities estimated- all documented in the Forward contract. This helps to control the price in the market from the files.

4. Insurance: there are several insurance packages that suit farmers. It is true that most insurance companies avoid the Agriculturist or they vary their policies depending on the type of farm or farm risks involved. Insurance is still the best way (after Agronomic practices) whatsoever to manage risks. Not only in plantain farming, but in Agriculture at large. Plantain farming however is easier insured than other crop farming.

CONCLUSION
There are so many other risks not mentioned in this article as there are other management tips not mentioned. For more enquiries on PLANTAIN FARMING, investments and it's agronomy; you can contact ARMI at you leisure.


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This article was produced by Agro Renewal Movement International (ARMI)

ARMI is a private driven agricultural company. We create investment portfolios in different areas of agriculture such as crop production, livestock, agro processing, mechanization, logistics, storage and warehousing etc. And also solve market problems, for individuals, cooperate organizations, busy business owners and working class with interest in agriculture, also with Nigerians and foreigners in diaspora.
Some of our agro investment plans include;

1. Land Wallet: Invest in agro real estate with as little as N70,000
2. Pig Wallet: Earn 20 to 30% in our pig investment plan with a mimimum capital of N100,000
3. Plantain Wallet: Invest in our plantain city with a one time investment of N750,000 and earn 250,000 Naira annually for 10 years

For more information on our various agro investment plans, training, and programs, reach us via;
OFFICE: Road 5,Block J 231,Ikota Shopping complex VGC Lagos
TEL NO: 08165040057
Email: armidevelopment@gmail.com
Web: www.armi.com.ng