6 Agriculture Business in the Philippines Samples and Tips

What comes to your mind when you hear about the “agriculture business”? Nowadays, many people might dream of starting a startup business in the fintech field or marketplace, but do you know that the agriculture business in the Philippines is a good money maker and also profitable?

Ditch the stereotype of farmers being old school and making no penny because that’s completely untrue. Given the fact that The Philippines is one of the countries with lots of natural resources, the growth and development of agribusiness in the Philippines are very promising and play a significant role in the nation’s economy in general. 

If you are thinking of starting a business and haven’t got any plan of which field to start, you can consider the agriculture business, and if you happen to be interested to know more about the agriculture business, this article is the perfect fit for you. So, enjoy your reading!

6 List of Agriculture Businesses in the Philippines

The agriculture business often involves the deal with livestock and plant life including being able to cultivate and maintain lands for better produce before providing the result for people. Agribusiness, a field of business where entrepreneurs purchase, negotiate and sell farm products with farmers for more profit is not only crucial for the growth of the Philippines economy but also a great source to make money.

Moreover, in these modern days, lots of people become more conscious about healthy lifestyles especially when we have to deal with the pandemic. Many people start to balance out their diet by adding vegetables and fruits to their daily menu, increasing the market demand for fresh products. Here are some agriculture business ideas which predicted to keep growing for the next 10 years:

Bananas

Do you know that the banana has been one of the top-grossing fruit in the Q3 of 2021? Aside from being a top-grossing product, banana has also become one of the easiest to maintain with a short planting to harvesting period, making the circulation of cash spin faster and making a profit at a decent speed.

Onion

One of the most crucial ingredients in Filipino cooking. Some reported that the average Filipino is estimated to consume about 1.9 kilograms of onion annually. These crops are also easy to grow. You will only need about 100 to 175 days for the plant to be ready for harvest. 

Garlic

If you think 100 to 175 days of harvest time is quite long and wish to do a quicker farming business, you can consider planting garlic. Aside from being another ingredient that is a staple for Philippines food, garlic only needs 40 days before you can harvest and sell it out.

Herbs and Spices

The pandemic era gave more people a chance to stay home and prepare food on their own. In 2021, herbs like coriander, lemongrass, sweet basil, and tarragon have been in high demand and are expected to keep growing. 

Hog Raising

One of the most consumed meats in the Philippines is pork which indicates that the business of hog raiser will always be beneficial. As long as you know how to lower the mortality rate of piglets and produce meatier pigs using the latest breeding technologies and upgrades the breed, making a huge profit is more than just possible.

But anyway, it will be best for you to find customers on your own rather than selling your products to viajeros (wholesalers). The reason is, that the end customer will usually pay a decent price for your pigs while the wholesalers tend to buy in bulk but offer an extremely cheaper price. 

Poultry Raising

No one can resist a chicken. Every dish made of chicken is a menu that never declines hence, labeling poultry raising as the best agriculture business in the Philippines is not exaggerating. Besides the chicken meat, you can also double your chance to make money by farming the chicken egg—although this is going to be another branch of agribusiness.

Most importantly, with the advanced farming technique, your chicken will be ready for sale within 45 days of breeding. If you wish to gain more profit, try to learn how to give your chicken proper feeding methods as well as the right dosage of antibiotics and vitamins so you can save more money and resources.

Last but not least, knowing to do some market research and method to find the right consumers so you can sell your chicken for better pricing and make more profit to keep the business running. Just like the hog-raising industry, try to avoid the wholesalers as much as possible.

Read also: How to Start Poultry Business in Digital Era? Here 3 Tips!

What You Need to Do in an Agriculture Business

Now you have already got a few list of agriculture business in the Philippines that you can consider working on. It’s time to discuss what you need to do if your business is hit by predation, extreme drought, or fluctuations in the market:

Understand that Business is Prone to Mistakes and Failure

Start with the baby step which means putting a small investment first and seeing how it is going. After all, starting a business is not easy and mistakes are inevitable. Hence, starting small can help you learn and won’t hurt as much in case you are making a fatal mistake. Lesson learned without big damage is the best plan.

Patience is the Key

Most businesses won’t have any profit returns during the first three to five years. You have to learn the trade and understand the market while covering up for the startup cost so your business can be established faster.

Learning from Others and Go with Proven Results

Mingle with other people that are also in the business. Take notes on how they run their farming business in the Philippines starting from the operational and other valuable insight. And when you are planning for your business strategy, it will be best for you to use planning that is proven to have worked well so you can tone down the cost.

How to Start Agribusiness in the Philippines

After knowing the agribusiness examples in the Philippines that you can consider investing in and getting the tips on how to prepare yourself for extreme drought or market fluctuations, it will be perfect to know exactly how to invest in agriculture in Philippines. Here is what you should prepare:

Knowledge

Before wishing to successfully supply agribusiness products in the Philippines market, you will have to gain knowledge regarding the field of industry. You can look for mentors who are capable of providing you with experience and knowledge to start the agriculture business. Or if there’s a chance, you can volunteer to work on a farm.

Create a Business and Production Plan

No matter what type of business you are going to establish, it is always bounded to the importance of writing a business plan to keep your business on the right track, and a solid business plan may help you to secure financial aid from investors or at least, helping you to successfully get the loan from the bank to keep your business going.

A business plan will also help you to make critical decisions regarding your business. Some of the considerations you should’ve put inside your business plan are:

• Initial investment.
• Product demand.
• Estimated annual gross and net.
• Your marketing planning.
• Risk assessment.

Read also: 3 Business Plan Examples With Benefits Of Writing It

Aside from the business plan, you may also explain your production plan by doing some of these points below:

• Make a research of a place, choose an area with good weather and climate that will support the growth of plants or animals that you are planning to farm.
• Understanding the soil conditions/types.
• It will be best for you to find a place/area with a great watering system.
• Production quantity and production duration. Calculate the amount of time you turn agribusiness products that will give you profit and control the amount of quantity to the decent amount that you can realistically manage.

Monitoring the Performance

By doing this, you can also acknowledge which is the lacking point in your business and proceed to change for the better. The monitoring here may also include the bookkeeping process that will help you to keep updated on how much income you gained, how much expense and liability you have to pay for, the balance sheet, gross margin, and many others that will directly affect the financial health of your business.

Aside from that, you can also monitor your sales as well as understand the market demand and adjust it to your marketing strategy

Read also: How Does Search Engine Marketing Work In Marketing World?

Conclusion

You have been given a few example of agribusiness in the Philippines that will bring profit as well as what you should do to keep the business going. The rules of thumb are to understand the market and the ability to find consumers on your own.

You will also have to be critical when it comes to spending as you are advised to expect no profit gain for the first three to five years of building your business. So, if there’s a chance to cut off unnecessary costs or gain extra profit from a side job, then you can consider doing so.

Join Ginee Philippines!

Speaking of side jobs and finding a market on your own, starting an online business can be one of the options. You can open a website to distribute your fresh products at a competitive price. If you don’t have any experience in building a website, you can reach out to Ginee for assistance. 

Ginee Philippines is a Omnichannel company that has been trusted by over 70,000 entrepreneurs to help manage their business online and offline. With the combination of advanced AI technology and the professional team that Ginee has, you are guaranteed to get the best marketing strategy and plan. 

Reaching out to the right target audience is no longer a daydream with the assistance of Ginee. Besides, Ginee also offers a product management system that will help you to easily keep track of your product and stock. 

So, what are you waiting for? Join Ginee Philippines now and complete the free registration. You will be given a chance to try out all of Ginee’s outstanding features for free. Make your entrepreneurship dream come true with Ginee!