Monday 28 March 2016

MY UNFORTUNATE FORAY INTO GRASSCUTTER FARMING


After about six months of preparing and saving up funds, I finally went to purchase and stock my first colony of grasscutters. The routine of cleaning and feeding was a bit challenging for me at first but I got accustomed with it quickly. Everything was going well and I was anticipating when they will be ready to mate, parturition day and grow my farm in numbers. But 17days after stocking, on a cool Sunday morning, I woke up early in the morning to clean the pens when I found one of the females lying cold dead in the cage. I was panicky, scared, frightened and disappointed all at the same time. My morale and enthusiasm was deflated. No one told me about this; that my animals could just die and there would be nothing to do or no one to complain to; I felt sick.

That one dead animal meant I had lost N12,000 (twelve thousand naira). Not just that, but also the potential eight (8) grasscuttlings it could have giving birth to in one year. Thinking about the multiplier financial loss from just that one dead animal gave me a headache. I couldn’t stop thinking about what could have caused the death. I was apprehensive about the remainder grasscutters. Were they going to drop dead one after the other just like that with me helpless and not able to do anything? I kept checking their pen every other minute hoping none had died again. 

My sleep that night was not the best. I woke up earlier than usual and headed straight to their pen. I can’t tell what was going through my head. On one hand I was praying and hoping they were still all alive and healthy; on another hand I was strengthening myself for the sight of another dead grasscutter. It was really not a good experience. If I didn’t have a good health myself, I would have had high BP. Yeah you are probably laughing at my experience right now or you can resonate with my experience because you have been in a similar situation :) no problem!

The essence of this experience sharing is neither to excite you nor is it to discourage you from taking the plunge into your agricultural endeavor, the purpose it to say it should not always be this way. We all want our foray into agriculture and farming to be all rosy but more often than not it isn’t always so. Risk of disasters like death of animals is inevitable but it can be insured against.


AGRIC INSURANCE

Now back to my story; do you know that with a fraction (less than 3%) of my investment into buying a grasscutter colony I could have insured the whole colony against this disaster. I would have saved myself of all the apprehension and worry by buying ‘peace of mind’.

Let us do some maths:


Without Insurance
With Insurance
1 colony (Cost in naira)
50,000 to 70,000
51,250 to 71,750
Extra expense (assumed Loss)
(No peace of mind)
(1,250 to 1,750)
Assumption
If one female dies
If one female dies
Loss
10,000 to 14,000 +
Potential 8 cuttlings for the year
The insurance pays you back
10,000 to 14,000 + cost of feeding from day of stocking to date of death.
Your action
Cry, count your loss and lick your wounds. You could even quit the farming business or advise no one to go into it. :(
Collect your compensation and go buy an extra female. You are back to where you were before the disaster. :)
 
And note that the insurance premium does not stop there. It still covers your losses for a whole year not just a one off. So while saving that money to buy 1,2,3…9 colonies of grasscutter to start the ‘silent money machine’, protect yourself by factoring into your financial plans an insurance premium of 2.5% - 3.5% of the cost of procurement.

HOW DOES AGRIC INSURANCE WORK
Agric insurance like regular insurance is a financial concept where indemnity is provided against loss or disaster due to uncontrollable occurrences after the payment of a premium. Such occurrences include fire, etc. that results in death in the case of livestock and loss of produce in the case of crops. Agric insurance service is provided by insurance companies licensed to provide insurance in the agric sector.

1. Pay a premium of 2.5 – 3.5% of the value of the animals you want to insure.
2. If any of your animals gets injured or dies due to any of these disasters – fire, accident, disease/illness etc. you make a claim and get your business back up.

To sign up for an insurance policy contact Mo’Agro Farms 



T: 08060043692, 07088625468       e: moagrofarms@gmail.com
t: @moagrofarms          f: Mo’Agro Farms       blog: grasscutterstore.blogspot.com.ng




No comments:

Post a Comment