New Delhi: Did you realise how much your country pays for food waste? Yes, we have to calculate this because of how much the situation has gotten worse. Every ordinary individual in the world wastes almost one-third of the food they purchase, prepare, and consume. India estimates that 214 crore of food is wasted every day, and over 1.3 billion tonnes of food are thrown away every day worldwide.
The hospitality, restaurant, and catering industries, as well as families, are mostly responsible for this food waste, which takes the shape of leftover rice, cereals, vegetables, fruits, breadcrumbs, and other foods.
Now, why would we lecture you about waste? Due to the possibility of entering the most promising and rapidly expanding industry of food management through the use of vermicompost
Are you willing to profit from mere waste, then?
What Is Vermicompost?
It is a decomposition process that uses a variety of worm species, including white worms, red wrigglers, and other earthworms, to produce a mixture of bedding material, Vermicast, and decomposing food waste.
Vermicomposting Business: Market Potential In India
Given that India is the second most populous country in the world and that it produces a considerable amount of food waste—over 60 million tonnes annually—the market potential for the vermicomposting process is now enormous.
After being consumed by the worms, these wastes are subsequently expelled, creating a decomposed substance that is rich in nutrients, has a lower degree of contamination than the organic materials present before the vermicomposting process, and is suitable for use as an outstanding organic fertiliser and soil conditioner.
Vermicomposting Business: Investment Details
A vermicompost manufacturing company must invest between Rs 300,000 and Rs 500,000.
Vermicomposting Business: Profit Details
Profits from a vermicompost manufacturing company could be in the form of:
Annual profit from worm farming: Rs 800,000. Production of vermicompost generates an annual profit of Rs 400,000.