BONIFAY – A new company is targeting local farmers to get in on the ground floor of the bamboo crop industry.
OnlyMoso which began in 2011 in Italy and expanded to the United States in 2014, held an informational meeting at the Knights Inn in Bonifay Monday with local farmers and other members of the agribusiness community.
According to their website, The OnlyMoso selection of giant bamboo is ideal for the climate in Southern Asia, Southern Europe, South America and along most of the coast of the United States from Delaware to Oregon as well as the Southeast, South Central and Southwest sections of the United States. The products obtained from Moso Bamboo are meant for the food, apparel, paper and construction markets.
OnlyMoso will be holding seminars in the near future for local farmers to attend to learn about the crop and the business behind it. Farmers have the choice to fund the start-up themselves or team up with investors if funds are short.
The initial startup for farmers is $16,000 per acre. The price includes 400 plants, materials and a consulting team for the entire term of the contract.
There is no profit to be made in the first two years while the bamboo grows. Year three will begin to the return on the investment. It is during year five the big pay-off comes into play.
Depending on the market, the terms of the contact, and the option of having investors, in the fifth year, farmers could net as much as $40,000 in profits per acre with a ten year buy back guarantee.
Bamboo is a 60 billion dollar a year industry and has over 1,500 uses. OnlyMoso has eight nurseries in the US that will furnish the plants to the farmers. One of the best things about bamboo is it only has to be planted once every 100 years. The plant is also easily maintained with fertilizing twice a year.
The term that comes to mind when talking of use of a farmers land and investors providing the backing to run the farm, is sharecropping. Essentially, should a farmer choose to enter the bamboo industry with OnlyMoso and investors, their land would be used to cultivate the bamboo, with investors money and OnlyMoso’s product.
OnlyMoso Agriculture Advisor Charles Edwards expressed the company’s plan for the future as one of creative in nature.
“We want to create the bamboo industry in the United States,” said Edwards.
For more information on becoming a part of the bamboo industry visit www.onlymoso.com