Cocoa prices hit $10,000 per metric ton for the first time ever. Recent news shows that Cocoa prices are up more than 100% this year.
The two largest producers, Ivory Coast and Ghana, have been hit by heavy rain fall and the spread of black pod disease that have affected farming.
Considering the increase in price of cocoa worldwide, Cocoa farming in Nigeria can indeed be a lucrative business due to the country’s favourable soil and climate conditions, particularly in regions like Ondo, Cross River, and Osun states. However, while cocoa prices have been volatile, it remains a viable venture due to its demand in the global market.
Starting from scratch involves several steps:
Land Acquisition: Identify and acquire suitable land with the right soil and climate conditions for cocoa cultivation. Leasing land may be an option to reduce initial costs.
Preparation of Land: Clear the land, remove weeds, and prepare it for planting by ploughing and levelling.
Seedling Acquisition: Purchase high-quality cocoa seedlings from reputable nurseries or research institutions.
Planting: Plant the seedlings in well-spaced rows, ensuring proper irrigation and fertilization.
Maintenance: Regularly weed, prune, and protect the cocoa plants from pests and diseases.
Harvesting: Cocoa trees typically start producing pods in 3-5 years. Harvest the pods when they are ripe, usually indicated by a change in colour.
Processing: Extract the cocoa beans from the pods, ferment them, dry them, and then grade and pack them for sale.
Cocoa can be processed into various products locally, such as cocoa powder, cocoa butter, and chocolate. The production process involves roasting the beans, grinding them into a paste, and then further processing to obtain the desired product.
Packaging for the local market can vary depending on the product. Cocoa powder and cocoa butter can be packaged in airtight containers or bags, while chocolates can be wrapped in foil or paper packaging.
To sell to other countries, exporters can establish relationships with international buyers, participate in trade fairs and exhibitions, and comply with international quality and safety standards. Exporting may require obtaining certifications such as Organic, Fair Trade, or UTZ certification to meet the requirements of foreign markets.
In summary, cocoa farming in Nigeria presents a viable business opportunity given the favourable conditions for cultivation.
Here are Videos that explains more about Cocoa farming:
