Is cocoa a good business?

A recent survey by Fairtrade International found that the average household income of cocoa farmers in West Africa is $2707/year, which is only about a third of what would be considered a livable income.

How can I sell my cocoa?

Go to sites such as eBay and ECPlaza and create an account to list your cocoa beans. Many distributors use websites such as these to sell their products, and many sell items such as cocoa beans to manufacturers that need them. Enter “Cocoa beans” in the search box to get an idea of the buyers in your market.

How many years does cocoa take to grow?

With proper care, most cocoa trees yield pods by the fourth or fifth year and can continue for another 30 years. A typical pod contains 30 to 40 beans and there are about 30 pods per tree; approximately 400 dried beans are required to make one pound of cocoa.

Is cocoa business profitable 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. Today the country is lagging behind Ivory Coast and Ghana in cocoa production.

How are cocoa prices set?

Many commodities are used to manufacture chocolate, and the key ingredient is cocoa. The prices of these commodities are driven, for the most part, by the commodities market, which sets the price based on supply and demand levels and can result in varying levels of volatility on commodity prices.

How much money do cocoa farmers get paid?

Fairtrade found average Ivorian cocoa farmer household income was $2,707 per year, with around $2,000 of income coming from cocoa, according to its survey of 3,202 Fairtrade certified farmers. This equates to total income of $0.93 per person a day.

Who buys cocoa?

Leading cocoa bean importers worldwide in 2020 (in million U.S. dollars)

Which state is cocoa grown mostly?

Ondo
The major states that produce cocoa are Ondo, Cross River, Ogun, Akwa Ibom, Ekiti, Delta, Osun and Oyo.

Does cocoa need shade to grow?

Cocoa nursery requires adequate shade, irrigation and wind protection. It is ideal to have 50\% shade in the nursery. The land should be leveled and free from rodents and pathogens.

Why is Africa so important to the cocoa industry?

This makes Africa very invaluable to the cocoa business and its related products, especially chocolate. Over two million smallholder families and communities in Cote D’Ivoire, Ghana, Nigeria and Cameroon have been cultivating cocoa for decades.

What do you need to know before starting a business?

Make sure to meet all federal tax requirements for starting a business. Follow this checklist from the IRS. Each state has additional tax rules when you start and operate a business. Get information on state-level requirements. Learn more about business taxes, including energy tax incentives that can help you save money.

What happens to cocoa beans after they are harvested?

These beans are the goldmine of the cocoa plant because they are processed into cocoa liquor, cocoa butter, cocoa powder, and most popularly, chocolate! After the pods ripen, they are harvested and cut open to extract the valuable cocoa beans. Surprisingly, the beans usually have a strong bitter taste.

How many cocoa beans does a cocoa tree produce?

A cocoa tree usually matures and begins to bear fruit (pods) when it is about four or five years old. On the average, a single cocoa tree produces between 20 and 30 pods, which are the oval-shaped yellow/orange things you see hanging on the tree trunk in the picture to your right. Each pod contains about 20 to 50 seeds, known as cocoa beans.