The agricultural business remains a gold mine even at this age and time! If you are looking for a lucrative and profitable Agricultural business to invest in, why not consider coconut plantation business. The high global demand for coconut oil, coconut water and it’s a by-product, starting your own farm can never be a wrong step.
It will interest you to know that coconut farming business has made many billions and has contributed billions to the economy of the major exporting countries of coconut such as India, the Philippines, and Indonesia.
Also worthy of note is that this massive value chain for coconut has remained hugely untapped in Nigeria. The formal chairman of Nigeria Agribusiness Group (NABG) – Mr. Sani Dangote, once said that Nigeria was losing approximately $1 billion every year resulting from the untapped coconut plantation business.
What are Coconuts?
Coconuts(Cocos nucifera- a member of the palm tree family Arecaceae) is a tropical plant that can grow in any climatic condition, The term “coconut” describes the whole coconut palm, both the seed and the fruit.
What is Coconut Farming?
Coconut farming is the complete process of Coconut cultivation for food and other by-product either for local consumption, commercial uses, or exportation.
Why You Should Invest? The Profitability of Coconut Plantation in Nigeria
The uses and demand for coconut products are booming and thus making the business an ever lucrative business. the huge opportunities in the value chain of this cash crop is a major reason why you should invest.
Business opportunities in coconut farming business include:
Tons of health benefits abound in the use of coconut oil. This oil is often described as the healthiest oil for human consumption. The coconut oil is a lucrative money-making opportunity for interested investors in Nigeria. Health benefit of coconut oil that has been explored by health experts and cosmetologists include; cholesterol level in humans with high-level cholesterol, improves hair quality and strength, serves as wood polish, etc
For fun, most people doing their leisure or vacations on a beach take coconut water without knowing why. Coconut water contains electrolytes and is enriched with abundant minerals. These minerals include; potassium, calcium, magnesium, and sodium. This is another lucrative business opportunity and reason you should consider investing in a coconut farming business in Nigeria.
Coconut meat refers to the thick white lining inside of a mature coconut shell. Enriched with vitamins A and E, polyphenols, and phytosterols that work together to help reduce the level of Low-density lipoproteins (LDL) cholesterol in humans. The coconut meat is good food and can be eaten in varied ways. It can be eaten raw, toasted, or cooked, combine it with smoothies, used in confectioneries, in the production of ice cream, or with other fresh fruits.
This is yet another reason why you should invest in coconut farming business in Nigeria. The coconut flour can serve as a substitute to other flours in food recipes For people that are allergic to other flour types such as wheat or people that have sensitivity for gluten because coconut flour no grain and gluten.
Another enticing reason to start – coconut milk, a combination of coconut meat creating a very creamy texture that is similar but of a great health benefit than cow milk
The Opportunities and reasons to start are numerous, we have been able to cover a few but convincing enough to get you started on the never regrettable journey into the business of coconut farming in Nigeria.
Types/species of coconut in Nigeria
Before starting off to invest, study the varieties of coconut and carefully select the one that is suitable for your market. There are about 10 types but are broadly divided into two subgroups, they are:
Dwarf Coconut palms
Tall coconut palms
Pending on your markets and for commercial use, select a variety with a high yield so as to increase productivity.
How to Start Coconut Farming In Nigeria: Complete Step By Step Guide
Below is a full step by step guide on how to cultivate your coconut plantation in Nigeria so as to ensure maximum productivity.
Get a coconut farming business plan
A crucial step towards starting your coconut farming plantation, to get a well-detailed coconut farming business plan. this business plan will help you understand all that there is in coconut farming business in Nigeria. With the market survey and feasibility report, you will greatly understand the market in Nigeria and how to succeed.
For a Detailed Business plan on Coconut, Farming Business Contact us or send an email to [email protected] or call/WhatsApp 08142633953
Soil Requirements, Farmland Selection, And Preparation
According to experts, the ideal soil conditions that guarantee improved growth and productivity of your coconut palms are well-drained soil, having between 50-100cm depth and good water-retaining capacity.
In addition to good soil one should ensure that the selected farmland is properly cleared, the soil plowed and all stumps removed for adequate drainage.
Another good practice is to fence the farmland, provide good access roads, irrigation systems, and other important infrastructure that increase the maximum development of your coconut farm.
Planting your coconut
Coconut palm is largely dependent on the availability of water, thus the best planting season is the onset of the rainy season. Only use seedlings grown and nurtured in a nursery and up 8 months for your coconut propagation.
Secondly, ensure adequate spacing doing planting, it is recommended that not more than 70 coconut palms are in one acre of land. Use a spacing of 7.5 by 7.5 meters.
Like other plantations, adequate care should be provided such as fertilization application, weeding, and pest control. These will increase the growth of your coconut trees and in turn maximum yield.
Harvesting Your Coconut
Most genetically improved seedlings, the harvest is usually from the fourth year of planting. Harvest the mature nuts immediately you start noticing that at least one of the nuts is drying up. Colour changes of the epicarp in Mature nuts make it easy to identify
Pending on the variety and on the age of your plantation, climbing method or the pole method can be used for harvesting
5. Demand And Supply Trends for coconuts In Nigeria
As you were made to understand at the beginning of this article, there is a high and increasing demand for coconut in Nigeria and globally. Coconut serves as major raw material for industries such as pharmaceuticals, food and confectionaries, beverage, and cosmetics.
Demand is far beyond supply thus the coconut market in Nigeria is filled with a great opportunity for the farming, processing, and sales of coconut.
Coconut farming business in Nigeria is a largely untapped opportunity and lucrative for new and existing agroinvestors to take advantage of.
If you’re looking to start an agro-based-business, coconut farming can be a great place to start and profit.
In addition to this article above, You can order a comprehensive Business plan on coconut farming business in Nigeria. To order, Contact us or send an email to [email protected] or call/WhatsApp 08142633953