Soybean is a leguminous vegetable of the pea family that grows in tropical, subtropical, and temperate climates. Nigeria is the largest producer of soya beans in Africa, largely operated by small farm holders who grow the crop as a minor crop amongst other major crops such as maize, beans, cassava, etc. Nigeria has a very favorable climatic condition that is ideal for soya beans to flourish as most areas in the country record over 700mm of rainfall annually.
Nearly 100 million hectares of soybeans are harvested worldwide yearly, with 20 million in Asia, 5 million in the USA, and 5 million in Africa.
The investment shall cover insurance, rents, land preparation, purchase of seedlings, fertilizer, herbicides and other farm inputs. Investments shall also cover irrigation, man power, marketing sales and other miscellaneous production expenses.
insurance, land ownership
Worldwide consumption of soybean is nearly 11 million tons. Africa consumes about 618,000 tons annually, and uses another 4,800 tons for animal feed. Nigeria is the largest consumer of soybeans in SSA followed by Uganda.
In Africa dry soybean is used to produce milk substitutes and flour. The bean curd is fried and eaten as a snack or breakfast food. Mature beans are not easily digested and contain toxic compounds, which require soaking and prolonged cooking.