How to Start Coconut Farming in Nigeria [Complete Guide]
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 Farming in Nigeria? With the high global demand for coconut oil, coconut water, and its by-products, starting your farm can never be the wrong step.
It will interest you to know that the 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 former 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-products either for local consumption, commercial uses, or exportation.
Why You Should Invest? The Profitability of Coconut Farming Business in Nigeria
The uses and demand for coconut products are booming thus making the business an ever-lucrative business. the huge opportunities in the value chain of this cash crop are a major reason why you should invest.
Business Opportunities in Coconut Farming Business Include:
1. Coconut Oil Production
There are tons of health benefits that abound in the use of coconut oil. This oil is often described as the healthiest oil for human consumption. 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 cholesterol improved hair quality and strength, serves as wood polish, etc. A plus point here is that coconut oil can be produced locally in the home.
2. Sale of Coconut Water
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 a reason you should consider investing in a coconut farming business in Nigeria.
3. Harvesting Coconut Meat
Coconut meat refers to the thick white lining inside of a mature coconut shell. It is 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.
Coconut meat is good food and can be eaten in varied ways. It can be eaten raw, flaked, toasted, or cooked, combined with smoothies, used in confectioneries, in the production of ice cream, or with other fresh fruits.
4. Production of Coconut Flour
This is yet another reason why you should invest in the coconut farming business in Nigeria. Coconut flour can serve as a substitute for other flour in food recipes For people who are allergic to other flour types such as wheat or people who have sensitivity to gluten because coconut flour has no grain and gluten.
5. Coconut Milk Production
Another enticing reason to start is coconut milk. This milk in combination with coconut meat creates a very creamy texture that is similar but of a great health benefit to cow milk
The opportunities in the business, reasons to start, and nutritional benefits of coconuts are numerous, we have covered a few here to convince you to get 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, you should 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:
1. Dwarf Coconut palms
2. Tall coconut palms
Pending on your markets and for commercial use, select a variety with a high yield to increase productivity.
How to Start Coconut Farming Business In Nigeria: Complete Step By Step Guide
Below is a full step-by-step guide on how to cultivate your coconut plantation in Nigeria to ensure maximum productivity.
1. Get a Coconut Farming Business Plan
A crucial step towards starting your coconut farming plantation is to get a well-detailed coconut farming business plan. this business plan will help you understand all that there is in the coconut farming business in Nigeria. With the market survey and feasibility report, you will greatly understand the market in Nigeria and how to succeed.
2. 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 ploughed and all stumps removed for adequate drainage.
Another good practice is to fence the farmland and provide good access roads, irrigation systems, and other important infrastructure that increase the maximum development of your coconut farm.
3. 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 to 8 months for your coconut propagation.
Secondly, to ensure adequate spacing doing planting, it is recommended that not more than 70 coconut palms are on 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.
4. Harvesting Your Coconut
For most genetically improved seedlings, the harvest is usually from the fourth year of planting. Harvest the mature nuts immediately after 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
Depending on the variety and the age of your plantation, the 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 a major raw material for industries such as pharmaceuticals, food and confectionaries, beverages, 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.
FAQs on the Coconut Farming Business
How many years does a coconut tree take to grow?
It takes between 3 – 8 years for a coconut tree to start bearing fruits. A single coconut takes close to a year to mature from a flower into a fruit.
What is the lifespan of Coconuts?
A coconut tree can stay evergreen for 60 to 100 years.
What season do coconuts grow?
Coconuts grow all through the year; they do not have a specific planting season that favours their growth
How many coconuts do you get per tree in a year?
You can get 70 to 100 nuts from a fully mature tree. Peak production of coconut trees which can reach up to 150 nuts in a year is when the coconuts are between 15 and 20 years.
What is the fastest-growing coconut tree?
The Jamaican tall variety of coconut is the fastest-growing coconut tree. It has an average lifespan of 80 years
Conclusion
The coconut farming business in Nigeria is a largely untapped opportunity and lucrative for new and existing agro investors 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 for the coconut farming business in Nigeria. To make your order, you can contact us by sending an email to us.
What are your thoughts on the lucrative properties of the coconut farming business in Nigeria? Please share with us using the comment box below.
