Turning A Pinch Of Taste Into Enormous Profit, Earn Upto Rs 10 Lakh In This Business Idea

Nowadays a lot of people are turning to farming as a quick and reliable source of income. If you have farming land, there are numerous crops that you can plant to generate a healthy profit at a reasonable cost. Growing asafoetida is one such crop whose cultivation can bring in much money considering its high demand in the Indian market.

Asafoetida is especially used in Indian households to enhance the flavor of foods. It is also used in the manufacture of food items and Ayurvedic medicines. If you cultivate the best quality asafoetida, you can expect a bumper profit from it. The cost of cultivation of asafoetida is Rs 3 lakh per hectare. After five years of cultivation, you can make up to Rs 10 lakh in profit. The market price range for 1 kg of asafoetida is between Rs 40,000 and Rs 35,000. So, a good cultivation of premium asafoetida can fetch you good money.

Business Idea: Why To Do Asafoetida Cultivation?

Asafoetida is rarely cultivated in India. To meet demand, much of it is imported into the country. Moreover, the steep price increase is partly a result of the high demand for asafoetida relative to its limited supply. In this scenario, planting asafoetida will help in the product's supply to the Indian market. Since asafoetida is rarely grown in India, you can cultivate it and sell it for a good profit. 

Business Idea: How To Cultivate Asafoetida?

Asafoetida plants can reach a length of 1.5 meters. Although it can be planted any month, August through September is the ideal time to plant asafoetida in India due to the country's climate. The ideal temperature for its growth is thought to be between 20 and 30 degrees. Sand soil that drains well is ideal for growing asafoetida. Asafoetida is a plant that grows best in a cool environment; exposure to intense sunshine might kill the plant.

Business Idea: How Is Edible Asafoetida Made?

Asafoetida is a plant that is extracted directly from the plant. Asafoetida is not grown on the plant but is extracted from the juice of the root of the plant which then goes through a long process. The same juice extracted from the roots after long processing takes the form of household asafoetida.

Business Idea: How Can Growing Asafoetida Yield Enormous Profits?

When asafoetida is planted following the proper technique, and sold in the right market, it will yield enormous profits for its growers. It's a low-cost plant that yields large earnings. The growers can make up to Rs. 10 lahks from asafoetida, the cultivation of which costs Rs 3 lakh per hectare. In the market, the cost of one kg of asafoetida ranges from Rs 35,000 to Rs 40,000. A good harvest of asafoetida will bring in a good amount of money. 

Another option is to partner with big markets to sell your asafoetida produce. Additionally, you can list your product on online marketplaces and sell it to earn up to three lakhs a month.

(Disclaimer: This article is for sole information purpose and for readers' project identification. The earning calculator is also mostly based on assumptive figures to give an example of certain type. The Zee News article does not intend to give any financial advice of any sorts. For initiating any venture, you must do your own due diligence and market research.)