Profitable Business Idea: In Today’s world everyone wants to earn more & become rich and one of the most underestimated sectors that can make you rich is Agriculture. There are few crops or plants that are supremely profitable.
One such plant is Sandalwood or Chandan- the most expensive Tree Plant. It is known for its beautiful fragrance & its wood. You can easily earn lakhs from cultivation of this tree.
About Sandalwood:
Sandalwood is in high demand in the international markets and the current production across the world does not meet this demand which has led drastic rise in the price of sandalwood. You will earn many times more than what you will invest in the cultivation of sandalwood.
Sandalwood trees can be grown in two ways: Organic & Traditional. It takes about 10 to 15 years to grow sandalwood trees in an organic way, while it takes about 20 to 25 years to grow a tree in the traditional way. The tree can be attacked by the animals because its smell, so you need to keep the stray animals away from trees. These trees can be grown in any region except Sandy & snowy areas. Sandalwood is used in perfumes & cosmetics & even Ayurvedic medicines.
Profitable Business Idea: Earn Huge Profits from Sandalwood Cultivation
Sandalwood cultivation profit to an investor is huge. Once the sandalwood tree is 8 years old, its heartwood starts to form & is ready to be harvested after 12 to 15 years from planting.
When the tree becomes big, the farmer can easily cut 15-20 kg of wood from it every year. This wood is sold in the market for about 3-7 thousand rupees per kg which can even be as high as Rs 10000 per kg.
As per IWST estimates, The Cost of Sandalwood Cultivation per hectare is around Rs 30 Lakh for the entire crop cycle (15 Years), but the returns vary from Rs 1.2 Crores to Rs 1.5 Crores
Subsidy for Sandalwood Cultivation:
There are several banks available in India such as NABARD which provide the facility of subsidy & loan to farmers for sandalwood tree cultivation. The National Medicinal Plants Board is also providing subsidies on Sandalwood Projects.
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