Organic Farming Business- A Profitable Opportunity?
Starting a business is not a piece of cake neither is rocket science. Before starting a business of any kind, one needs to gather all noteworthy information regarding it, so that later the business doesn’t go in a downfall.
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Coming to the farming business sector, Organic food has truly exploded in the Indian market and there are a spectacular scope and opportunity for agreeing in the business of organic food and organic farming.
NPC’s comprehensive project report aims to deliver you with all the significant information required. Here are a few things to keep in mind if you plan to invest in this business:
- Market opportunity when it comes to the organic food market is at a growing demand as there are growing occurrences of food contamination, which are regularly reported across the globe. Consumer awareness of natural, healthy, and safe foods is on the rise, at the same time consumers are progressively willing to pay for biological foods as their throwaway incomes rise.
- Understanding your target audience – The generation is cultured and smart; thus they prefer to eat healthily and spend on day-to-day food than spend on remedial dealings. With better spending power and with growing realization, these products are not just becoming general but are finding a sure place in the buying baskets. The market for organic food is all over the place and it is important to know that everyone is a possible buyer.
- Evolution Opportunity – Organic foods are one of the few groupings that will fall into the high-scale, high-margin opportunity range. This high-scale opportunity is driven by the fact that organic food intake is not even 0.1 percent of India’s $300 billion annual food consumption. The scale of the opportunity is also driven by the collective variety of organic foods hitting the market and the arrival of ecommerce as a network in which to sell the produce. This makes it a good business model to recommend or invest In a shell, there is a good chance that India’s organic opening could scale from $500 million to about $2 billion— by 2020.
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- Government schemes for promoting organic farming – Through the National Centre of Organic Farming (NCOF) under the Department of Agriculture and Cooperation with NABARD. The Indian government offers principal asset subsidy for organic farmers as the prime objective is to voluntarily make obtainable organic resources for improving farm productivity without letting the ecosystem’s firmness to decline.
- Favorable Future – Increasing health awareness among masses reduces the emission of greenhouse gases, granting of attractive subsidies. The relaxing of export laws for organic produces would offer needful inspiration for promoting organic farming in India in the approaching days. Implementation of GST (Goods and Service Tax) The resulting price hike of produces would weaken the competitive proportion of domestic manufacturers in international marketplaces. India is envisioned as becoming the ‘Organic Hub of the world’ by 2020.
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- Advantages of organic farming in a nutshell include
- Organic crops are architecturally and metabolically superior to other crops
- Such crops are less exposed to rotting and can be stored for an extended period
- Input costs are suggestively lower compared to conventional farming
- Yields from the same piece of land are higher
- More and more customers are eager to pay more for organic products
- Security of income and rich returns on asset assured
Concluding, all the companies, who are currently, as well as those who plan to enter this segment, need to work mutually and consistently to build a sustainable ecosystem and growth opportunities. Realize your organic farming related goals conclusively right now. NPCS’s project consultancy and market research fields put forward the emergent possibility for organic farming business.