An worm scheme which turned sour for Ravi .
The Star on March 27 quoted the Tamil Nesan on “ the plight of many investors who lost thousands of ringgit after investing their money in a worm-breeding project undertaken by a company in Jalan Kuala Pilah, Seremban.
The investors said they had been sweet-talked by an Indian national who had promised good returns on their investment.
An investor, M. Ravi, 41, said he was promised a return of more than RM8, 000 within eight months if he invested RM5, 200 for a barrel of breeding worm.
Ravi and other investors realised that they had been duped when they went to the company’s headquarters only to find it closed. “
There was no detail information on this worm farm. I wonder if it is an earthworm farm ?
Earth worm farming is common, in the US, Europe, Australia mainly as a hobby, not a big business and if done as a business , it is a small business (I stand corrected.). The type of worm used in worm farming is called tiger or red worm and they are not expensive . Is Ravi talking of tiger worms ? .
The earthworm is farmed to turn valuable household waste, old newspaper, garden waste into solid and liquid fertilisers. At worse as fishing baits.
In other words the earthworm turned our household food scraps into ‘black gold. Worm castings are phenomenal soil improvers. The worm castings can be spread over the veggies beds, and around our fruit trees from the base of the trunk to well past the drip line. The pooh are much better than any other animal manure. And they have no smell, which keeps the neighbours on side!
As mentioned setting up a small earthworm farm is not expensive. You can make the farm from a polystyrene box or you can buy one of the manufactured worm farm boxes which may look like this.
This set up would cost no more than R$500. As said, it is not a business rather more of a hobby.
I will blog about how to set up a worm farm soon.
Filed under: Business Ideas and Opportunities, Company | Leave a Comment