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Cash crop

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Cash crop is a very common topic for those who are pursuing the study of agriculture. These crops are regarded to be a part of Economics since it makes a significant contribution to the economy of any nation. Even though the topic is quite interesting, preparing an assignment on cash crop may seem challenging to many. Now that MyAssignmenthelp.com has your back, you don’t need to worry about the challenges.

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Cash crop definition

According to the Oxford dictionary, the cash crop is a type of crop that is grown mainly to be sold rather than used by the people who grew it or those living in the area it is grown in. Merriam-Webster offers even a more concise cash crop definition. It says a cash crop is a readily saleable crop (such as cotton or tobacco) produced or gathered primarily for the market.

What is a Cash Crop? – A broader understanding of the topic

As you may have understood by the cash crop definitions mentioned above, these crops are grown to make money. Crops grown to feed families and livestock aren’t always considered as cash crops. However, if the same crops (such as grains, vegetables, and legumes) are grown to be sold in the market or to make drugs or clothes, you can call them cash crops.

Basically, any crop that is harvested for profit is a cash crop. Over the years, the farming practices of the world have changed. In the past, cash crops used to represent a small part of a farm’s total production. However, now farmers sell a majority of their crops for revenue. Most of the low-income countries export most of their cash crops to developed economies.

Unfortunately, the price for most cash crops is set by the International Commodity Markets. There are some price variations due to local demand, supply, and transportation costs. However, the variation is quite negligible. Practically, the farmers are at the mercy of international commodity prices.

Cash crops in different regions of the world

Growing of crops relies heavily on the place where they are grown. Elements like climate, the soil quality, demand and supply of the crops, etc. define the cash crops availability in a given year. So, it is quite evident that what grows in Australia may not grow in Alaska. Since the geographical factors often define cash crops of a particular area, here’s what you may get to know about different cash crops in different regions of the world.

  • Cash crops in a tropical region:

In the tropics, crops like jute, cotton, oranges, cocoa, sugar cane, coffee, and palms (for oil) are harvested for profit. Some fruits are also used as cash crops in the tropical region. They include bananas, mangoes, papaya, and other tropical fruits.

  • Cash crops in subtropics:

A number of tropical plants are grown in this region as well. Plus sub-tropical areas are quite favourable for the grain crops, including rice, millet, oil-yielding crops, etc. A few types of herbs and vegetables are also used as cash crops in this region.

  • Cash crops in temperate regions:

In the temperate regions, most common cash crops include wheat, oats, rye, barley, corn, etc. However, fruits and vegetables are also harvested for profit in this region. Apples, pears, strawberries, cherries, raspberries, and blueberries are some of them.

  • Cash crops in the Arctic:

Due to the extreme weather in the Arctic region, most agricultural products are inhospitable. However, Rhodiola rosea, more commonly known as golden root or roseroot is a potential cash crop of the Arctic. Since it has a high demand and it grows particularly in the cold regions, this can be used for profit-making by the people in the Arctic.

Best cash crop for 1 Acre

If you are under the impression that you need acres of land to grow cash crops then you are wrong. There are some speciality crops that can be grown in a single acre land. And the best part is that they can be grown without a full-time commitment. Some of these speciality crops can make a profit of nearly $90,000 on every acre. Here is the list of best cash crops for 1-acre land that anyone can grow.

  1. Bamboo:

Bamboo trees are currently high in demand for their use in the landscapes for hedge, screens or just as a stand-alone plant. Interestingly, homeowners and landscapers are paying as much as $150 for each potted bamboo plant. This versatile grass plant is seen mostly in tropical regions. However, they can survive in the sub-zero winters as well.

  1. Flowers:

Flowers can be hugely profitable for anyone who is willing to start growing cash crops. Apparently, flower growing business has unlimited possibilities. Cut flowers and dried flowers also have market value. Interestingly, growing flowers for profit does not require a lot of effort.

  1. Ginseng:

Throughout history, Ginseng has been valued for its healing properties. The roots of this valuable plant take around six years to mature. However, one can make a profit by selling the young "rootlets" and the seeds while waiting for the roots to mature. Over a period of six years, you can earn up to $200,000 per acre from Ginseng.

  1. Ground covers:

For smaller backyard plant nursery, ground covers can be an ideal choice of the cash crop. They can bring up to $20 per sq. foot. This plant is generally used for landscaping. And since the ground covers are low in maintenance, their demand is slowly growing in the market. Also, they are easy to propagate, grow and sell, which makes it one of the best cash crops for 1 acre or smaller lands.

  1. Herbs:

Herbs are mostly used for culinary and medical purposes. And since none of those two is going out of business, it may be a good idea to grow herbs to make profits. Culinary herbs such as chives, basil, cilantro, and oregano are quite popular in the market. Also, there are medicinal herbs that offer a good amount of profit. Growing popular herbs can earn a person a significant amount of profits even in a land smaller than 1 acre.

Hopefully, these pieces of information have helped you develop adequate knowledge of the cash crop topic. However, if you are still looking for assignment help on the topic, MyAssignmenthelp.com has got you covered.

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