Spotting new opportunities is one mark of a smart entrepreneur, including those in farming.

Diversifying into a new product that is appropriate under the prevailing circumstances is one good move.

One gamefowl farm in Batangas, for instance, is doing just that. Since it has a portion of the farm that is not being used at the moment, the owners are diversifying into the production of naturally-farmed chickens for meat. For the company, entry into free-range chicken production is quite easy. There is a big portion of the farm that is excellent for grazing the birds. The water system, electricity and two structures for brooding are already in place. More important, there is a big supermarket chain that has indicated interest in buying the type of poultry meat targeted for production.

Even orchid growers recognize diversification as a means of increasing income. Just like the members of the Pangasinan Orchid Growers Society headed by Agapito Servito. Many of the members are in the business of growing and selling orchids. Recently, they visited the Teresa Orchard & Nursery in Teresa, Rizal to obtain some planting materials of superior exotic fruit trees. The idea is for them to add planting materials of fruit trees in their list of merchandise. They obtained their own mother plants for the purpose of multiplying them and then selling their own propagations.

There are a number of ways they can make money from fruit trees. Of course, it is important that they propagate the superior varieties. Besides grafted seedlings, they can make money from growing and selling full-grown fruit trees in containers. There are a number of varieties that are suitable for growing in containers.

One other way of diversifying the source of income is through value-adding or processing. One wife of a papaya grower in Iloilo has found a profitable project in making papaya pickles. The small and otherwise unmarketable green papaya fruits are made into pickles. She processes at least 150 kilos of green papaya everyday that she sells through a grocery and to the many native lechon manok stands in Iloilo.

In agriculture, taking stock of opportunities is one key to success.