Steve Agbota; [email protected] 08033302331
Contract farming has been a central part of agriculture for decades. This method of farming is playing an increasingly crucial role in many developing and agrarian countries.
Globally, contract farming is described by the Food and Agriculture Organisation (FAO) of the United Nations (UN) as an agricultural production carried out according to an agreement between a buyer and farmers, which establishes conditions for the production and marketing of a farm product or products.
In a decent society, efficiently organised and managed contract farming reduces risk and uncertainty for both parties as compared to buying and selling crops on the open market.
Though in Nigerian agricultural space, contract farming is still in the dark board, but few investors, companies and individuals who have started engaging farmers in contract farming are making profits. It has been a win-win situation for both parties.
The benefits of contract…
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