How Sandalwood Plantation Business Can Fetch Profit Up To Rs 5 Crore Per Year – News18

People are looking for side hustles these days that are able to fetch them money. Many prefer to buy land or properties and receive rent from them; others start a business online and earn money from it. There is another such lucrative business, which involves farming. The business we are talking about is the production of sandalwood. It is a profitable venture but requires a lot of patience. Sandalwood is one of the most in-demand and popular woods in the world. They are used to make a variety of products and are known for their unique odour. Let’s look at how one can run a business of sandalwood production.

There are mainly two ways to plant sandalwood trees. The first way is to do it through organic farming, and the second way is through traditional methods. It takes about 10 to 15 years to grow sandalwood trees through the organic method, and it takes about 20 to 25 years to grow the trees through the traditional method. During the initial 8 years, the trees do not require any extra protection. After that, it starts producing a sweet scent in the air. Then, it becomes essential to protect the trees from smugglers and animals, who might try to damage them. Another important aspect of sandalwood trees is that they can grow anywhere, except in sandy or snowy regions.

Sandalwood trees carry huge profits. If you plant one sandalwood tree, you can earn Rs 3 to Rs 5 lakh in a year. Similarly, if you plant even 5 -10 trees, then you can earn more than 30 lakh per year. If you are successful in planting more than 100 trees and selling their wood after they mature, then you can earn up to Rs 5 crore a year.

With such a profitable business at bay, one needs to understand the rules and regulations imposed by the government for this occupation. In 2017, the Indian government banned the buying and selling of sandalwood. Under this law, you can plant a sandalwood tree, but you can only sell it to the government. Initially, you have to inform the Forest Department and get their permission. They will buy the sandalwood tree from you.