20 September 2023
Take a guess: what do you think are the most profitable crops to grow worldwide?
There are many crops farmers can grow for a profitable source of income, but the decision on which to cultivate will depend on factors such as climate and soil, input costs, and where you are in the world.
African Farming has looked at five of the world’s most profitable (and expensive) crops that farmers grow to get the most out of their land.
5. Mushrooms
The cultivation of mushrooms, especially oyster mushrooms, can be surprisingly profitable.
They can be grown in as little as five weeks and can be sold for a good amount. Mushrooms are an excellent crop for urban farmers or anyone with limited space. They are typically grown indoors and yield an extremely high return per square metre.
Mushrooms do not last long after they are harvested and can be difficult to ship quickly across a country, giving local producers a significant advantage over commercial operations. Producers also dry mushrooms when they have harvested too many to sell.
4. Vegetable sprouts
Vegetable sprouts, such as lentil, radish and pea sprouts, are among the most scalable and profitable crops in the world.
They have a high yield per square metre, a high selling price, and they are among the easiest crops to grow and market since people are already familiar with them.
Harvesting happens only two to three weeks after planting, and a few trays of sprouts can produce a profit. Like mushrooms, vegetable sprouts must be sold fresh. They do not have a long shelf life.
3. Lavender
Lavender is an extremely profitable crop in countries with the right climate.
It is versatile, and its flowers can be sold fresh or dried. Lavender is also a common ingredient in aromatherapy products and skincare products such as soap and body lotion.
It is easy to cultivate and maintain since it can be grown in a variety of climates, requiring minimal or no fertiliser and irrigation, and can easily be propagated from cuttings. It grows rapidly, and the plants are disease resistant.
2. Goji berries
The investment needed to grow goji berries from cuttings can be quite high, but unlike other berries, they do not need to be replanted annually.
In the first few years, the harvest may be small. It takes three to five years to reach full production capacity.
Dried goji berries, considered a superfood with numerous health benefits, are in high demand, but fresh berries are even more sought after, making them naturally more expensive.
1. Saffron
Saffron is the most expensive (legal) crop in the world.
The cultivation and harvesting of saffron are very labour-intensive.
It takes about 150 blossoms to produce a single gram of dried saffron. Saffron thrives best in dry regions with moderate winters. In other regions, saffron can be cultivated in greenhouses.
Labour costs are the main reason saffron is typically grown in countries with lower wages, despite the high selling price of the crop.
Saffron is made from the stigma – the part of the flower that contains pollen – of the crocus plant. The saffron crocus cannot easily be grown from seed, so farmers rely on corms.
Over the years, crocus corms multiply. Producers can then separate and replant them or sell the surplus to other farmers.
During the harvesting process, the flowers must be carefully picked while they are in bloom, then three stigmas are extracted per flower.
Additional sources: agrolearner.com; landini.com; smallbiztrends.com
