New Delhi: Did you realize how much your country pays for food waste? Yes, we have to calculate how much worse the situation has become. Every average person in the world wastes about one-third of the food they buy, prepare and consume. India estimates that 214 crores of food is wasted every day and more than 1.3 billion tonnes of food is thrown away every day across the world.
The hospitality, restaurant and catering industries, as well as households, are responsible for much of this food waste, which takes the form of leftover rice, grains, vegetables, fruits, breadcrumbs and other food items.
Now, why would we lecture you about wastage? Due to the possibility of entering into the most promising and rapidly expanding industry of food management through the use of vermicompost.
So are you ready to profit from mere waste?
What is vermicompost?
It is a decomposition process that uses a variety of worm species, including white worms, red worms and other earthworms, to produce a mixture of bedding material, vermicast and decomposed food waste.
Vermicomposting Business: Market Potential in India
Given that India is the second most populous country in the world and produces considerable amounts of food waste – more than 60 million tonnes annually – the market potential for the vermicomposting process is now huge.
After being eaten by worms, these wastes are expelled, creating a decomposed substance that is rich in nutrients, has a lower amount of contamination than the organic matter present before the vermicomposting process, and is Suitable for use as an excellent organic fertilizer and soil conditioner.
Vermicomposting Business: Investment Details
A vermicompost manufacturing company will need to invest between Rs 300,000 to Rs 500,000.
Vermicomposting Business: Profit Details
Benefits from vermicompost manufacturing company can be as follows:
Annual profit from worm farming: Rs 800,000. Vermicompost production yields an annual profit of Rs 400,000.