Some Important Milestones in Poultry Farm Operations that impact Income & Profitability

Some Important Milestones in Poultry Farm Operations that impact Income & Profitability

Broilers should attain market weight (Av. wt of 2-2.5kg) by 42-49 days of age
Layer birds should start laying between 16-18 weeks
By age 25-28 weeks layer birds should be able to feed themselves
By age 30 weeks, layer birds should become profitable
Layer birds should maintain 70 %+ laying to be profitable
By age 70-72 weeks, layer birds should be replaced
Batch mortality rate should be between 5-6%.

Since livestock are reared in batches, it is good farming practice to maintain proper records for each batch and carry out record analysis.

Determine Profit or loss from each batch. Other important farm parameters could also be calculated that can serve as learning and planning experience for the farmer.

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You can compare your farm operations with other farmers and share experiences
You  can experiment with different feed millers to compare results and
You can also experiment with different breeds of livestock

You can do all these by keeping proper records of your farm operations.

Government Grants/Loan

The government is currently diversifying the economy away from oil and investing in agriculture to shore up the battered economy and create jobs.

To achieve these objectives, government is providing grants and soft loans to farmers.

Grants are provided to acquire necessary farm implements and inputs (e.g bird cages)- government provides 80% of the fund while the farmer contributes 20%.

Loans are granted at single-digit interest rate (max. 9%) as compared to 25-30% rate by Banks

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Only farmers with good record-keeping system can benefit from the funding.

For data recording/ analysis and timely reporting, there isComputer-based software that is available in the market at affordable cost to assist farmers.

Computerized Accounting system will assist your farm with the necessary bookkeeping and analysis.

Cloud-Accounting software is the latest technology many farmers are adopting for their record keeping and analysis.

Unlike the traditional computerized accounting systems (Peachtree, Sage, DacEasy etc) cloud accounting system is cheaper and easy to operate.  There is no need to acquire expensive hardware or software. You only pay monthly subscription, based on usage (Pay-As-You-Go). It is user-friendly and does not require accounting or computer background to use. You can access your financial information from anywhere using the internet connection.

Article contributed By:

Kunle Oyewole

Olukunle Oyewole & Co

(Chartered Accountants)

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