How profitable is cocoa farming in Nigeria?
This study assessed the profitability of cocoa farms in Nigeria’s largest cocoa producing state and ascertained their profitability determinants. Results showed that cocoa production is profitable with mean profit of US$10342.93. The determinants were labour, capital, seedlings planted and household size.
Which state in Nigeria is cocoa mostly grown?
Ondo
The major states that produce cocoa are Ondo, Cross River, Ogun, Akwa Ibom, Ekiti, Delta, Osun and Oyo.
Where are cocoa beans grown in Nigeria?
Major cocoa-producing states in Nigeria are Ondo, Cross River, Ogun, Akwa Ibom, Ekiti, Delta, Osun and Oyo.
Which countries produce the most cacao?
About 70 percent of the world’s cocoa beans come from four West African countries: Ivory Coast, Ghana, Nigeria and Cameroon. The Ivory Coast and Ghana are by far the two largest producers of cocoa, accounting for more than 50 percent of the world´s cocoa.
How much cocoa beans does Nigeria produce?
According to the report, Nigeria produced approximately 238 thousand tons of cocoa beans in 2012/2013 and is expected to produce 270 thousand tons in 2020/2021.
What is the current price of cocoa in Nigeria?
Currently, a ton of cocoa sells for anything between N700,000 and N750,000. A breakdown of pricing per ton in different cocoa-producing districts of Nigeria and is presented below. At Idanre, Ondo State, a ton of cocoa is for N740,000 – N765,000.
How do I start a cocoa business in Nigeria?
Step By Step Plan On Cocoa Production
- Choose A Land. Forest lands are the best places for a cocoa plantation.
- Prepare The Soil. Cocoa plant requires a deep, relatively damp soil with the right quality and quantity of nutrients.
- Decide On The Type of Plant To Grow.
- Plant The Seed.
- Maintain The Plant.
- Harvesting.