You asked: Is cocoa business lucrative in Nigeria?

Cocoa is a lucrative business not only in Nigeria, but also in many parts of Africa. Cocoa used to be the major foreign earner in Nigeria. … There is a high prospect for cocoa business to thrive in the country.

Is cocoa business profitable in Nigeria?

Cocoa production is one of the oldest agricultural businesses in the world. It’s a profitable business with the potential to generate income in different ways. More so, it was one of the main foreign exchange products in the Nigerian economy before the oil boom.

Where can I sell cocoa in Nigeria?

The list of cocoa bean exporters of bulk and wholesale cocoa beans from Nigeria include:

  • Agro traders Ltd.
  • Crystal Green Ltd.
  • Gbemtan Investment Ltd.
  • Olatunde International Ltd.
  • Agebelere Cocoa Farm.
  • Okon & Sons Integrated Services Ltd.
  • Ose Global Bizness Links Nig. Ltd.
  • Terry Cocoa Merchant.

25.09.2018

Is growing cocoa profitable?

As mentioned before, growing cocoa in India as a profitable crop is possible when inter-cropping is done scientifically. According to some calculations, a farmer can earn up to Rs 60,000 per acre of land along with coconut, from which he can earn Rs. 30,000 per acre.

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How do I start a cocoa farm?

Cocoa is raised from seed. Seeds will germinate and produce good plants when taken from pods not more than 15 days underripe. Cutting – Tree cuttings are taken with between two and five leaves and one or two buds. The leaves are cut in half and the cutting placed in a pot under polyethylene until roots begin to grow.

How many years does it take cocoa to produce?

After cocoa seeds are planted, it usually takes between three and five years to yield the first crop. Cocoa Hybrid varieties however can yield crops within two and three years. Most countries have two periods of peak production per year: A main harvest, and a smaller harvest.

Which state is the largest producer of cocoa in Nigeria?

Ondo is rated the largest cocoa producing state with an output capacity of about 77,000 tons per annum. Other producing states include Cross River, Kwara, Akwa Ibom, Ebonyi, Abia, Rivers, and Adamawa.

How much is cocoa now in Nigeria?

Prices of Cocoa in Nigeria Today

As it stands, a tonne of cocoa sells for anything between N700, 000 – N750, 000 depending on the location of purchase.

What is the current price of cocoa in Nigeria?

1 Tonne of cocoa at Idanre, Ondo State: ₦680,000 – ₦710,000. 1 Tonne of cocoa at Ore, Ondo State: ₦675,000 – ₦700,000. 1 Tonne of cocoa at Ife Central, Osun State: ₦680,000 – ₦700,000. 1 Tonne of cocoa at Akoko Edo, Edo State: ₦670,000 – ₦690,000.

Is cocoa grown in Nigeria?

Cocoa production is important to the economy of Nigeria. Cocoa is the leading agricultural export of the country and Nigeria is currently the world’s fourth largest producer of Cocoa, after Ivory Coast, Indonesia and Ghana, and the third largest exporter, after Ivory Coast and Ghana.

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Why do cocoa farmers get paid so little?

As a result of low yields due to poor farming practices, aging trees and limited access to inputs such as fertilizer and planting materials. The average cocoa farmer’s income is significantly below the World Bank’s extreme poverty line of USD 1.

How much money do cocoa farmers get paid?

The average farmer will make between $1,400-$2,000 profit a year, at most about $5 a day, which will need to support 6-10 dependants. So a cocoa farmer and their dependants will be living on between $0.50-$0.84 a day, well below the World Bank’s extreme poverty line of $1.25 a day.

How much does a cocoa farmer make per day?

Cocoa farmers in Ghana make $1/day, while those in Côte d’Ivoire make around $0.78/day—both significantly below the extreme poverty line.

What is the best time to plant cocoa?

Inside each pod is a white pulp that contains around 20 to 50 seeds, or cocoa beans. The seeds are extracted and processed into myriad products. These trees have a fairly slow growth rate, and it can take around five years before they produce seed pods. The best time to plant is in the spring or fall.

How much is cocoa per acre?

Typically, a cocoa farm covers two to four hectares (five to ten acres) and each hectare yield 300 to 400 kilograms of cocoa bean in African farms. Farms in America has higher yield per hectare, as they are slightly larger in size and each hectare produces 500 to 600 kilograms of bean.

How many times is cocoa harvested in a year?

Cocoa harvest is not restricted to one period per year and a harvest typically occurs over several months. In fact, in many countries, cocoa can be harvested at any time of the year.

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