Profitable Medicinal Plant Cultivation for High Earnings
Medicinal plants have emerged as a lucrative venture, offering substantial income to farmers while meeting the soaring demand in the healthcare and cosmetic sectors. These plants serve as valuable raw materials for medicine, cosmetics, and pharmaceuticals, making them a promising choice for cultivation. Furthermore, the Indian National Medicinal Plant Board extends substantial subsidies, ranging from 30% to 75%, based on the plant species.
Here, we present the top five medicinal plant cultivation opportunities that can boost farmers’ income and enhance their livelihoods:
- Ashwagandha Farming: The roots of the ashwagandha plant, a staple in Ayurveda and Unani medicine, yield products like powder, extracts, and pills. Ashwagandha is typically harvested after 150-180 days of sowing, selling for around Rs 60-70 lakh per hectare, with cultivation costs of approximately Rs 12,000-14,000 per hectare.
- Gulkhaira Farming: Innovative gulkhaira cultivation can be interspersed with conventional crops, assuring profitability. The plant’s flowers, leaves, stems, and seeds fetch premium prices, offering earnings of up to Rs 50,000 per bigha.
- Lemongrass Cultivation: Lemongrass, a low-investment, high-reward option, matures in just four months. Its oil is in high demand across various industries, including cosmetics and medicines. With an investment as low as Rs 20,000, one hectare can yield profits of up to Rs 4-5 lakhs per year, consistently for 5-6 years.
- Shatavari Farming: Shatavari, an asparagus variety, is a valuable asset in Ayurvedic therapy. A single acre of Shatavari plantation can generate an estimated Rs 6 lakhs in revenue, utilizing the dried roots for medicinal purposes.
- Geranium Cultivation: Geranium cultivation is a cost-effective way to earn substantial revenue. The oil extracted from geranium is used in aromatherapy, cosmetics, fragrances, and soaps. Harvesting occurs every three to four months, with the market price of geranium oil reaching up to Rs 20,000 per liter.
Please note that this article is for informational purposes and to aid project identification. The earnings figures are approximate and based on assumptions. It is essential to conduct thorough due diligence and market research before initiating any venture.
Re-reported from the article originally published in The Zee News English
