MAKING IT, SPENDING IT: MAKE OR MAR MONEY CHOICES – Making Profit From Mushroom Farming

A lucrative farming sector that is yet to be fully explored is mushroom farming, where one can comfortably make N10million annually through local consumption or exporting of the farm products. This business can create employment and conquer poverty in Nigeria.

A mushroom is a kind of fungi that grows on the soil or the body of its food, usually decaying tree trunks. It is the fleshy part of the fruiting body of a fungus. Asides it growing on the soil or decaying trees, it can also be grown in a greenhouse.

Aside from the delicious taste of edible mushrooms, it also has numerous health benefits. The button mushroom can help in reducing weight, shiitakes mushrooms are known to fight tumors. The chanterelle mushrooms contain a reasonable amount of vitamins. While the oyster is currently being studied as a possible cure for HIV.

Hence, edible fungi are commonly known as mushrooms that have been classified as vegetables, however, technically they are not considered plants. They are rich in riboflavin, potassium, vitamin D, selenium, and other ingredients that are beneficial for human health.

Clinical results and preclinical studies have shown it helps in supporting healthy immunity, weight management, and overall health performance. Additionally, its consumption can potentially reduce the risk of asthma and diseases, such as prostate cancer, and breast cancer, which, in turn, aids in boosting its consumption and sales performance.

According to Fortune Business Insight, “ In the year 2020, the global mushroom market size was 14.35 million tonnes. The market is projected to grow from 15.25 million tonnes in 2021 to 24.05 and million tonnes in 2028 at a CAGR of 6.74 per cent during the 2021-2028 period.”

The report further stressed that the global impact of COVID-19 has been unprecedented and staggering, with mushrooms witnessing a positive impact on demand across all regions amid the pandemic as the global market exhibited a higher growth of 6.3 per cent in 2020, as compared to the average year-on-year growth during 2017 to 2019.

Also, the U.S. Department of Agriculture (USDA), says 816,367 pounds(370,289Kg) of the product were shipped in 2020, with a rise in sales value by 3 per cent to reach USD 1.15 billion.

Europe accounts for the largest market for cultivated mushrooms, with more than 35 per cent of the global market as demands are also steadily rising in North America. In South America its also recording explosive growth as there has been positive growth due to the COVID-19 pandemic.

It is confirmed that there are varieties of mushrooms – button, oyster, shiitake, maitake, nameko, enoki, mane, straw, and shimji, among others, not all the varieties are edible, as some are poisonous.

As it has been stated, not all mushrooms are edible. So, the first step in growing your mushrooms is to identify the species that are good for consumption.