Have you ever wondered how you can get involved in farming without planting? Coconut (Cocos nucifera) value chain is a way out. This is because coconut produces lifelong financial returns when properly done. Coconut farming is highly lucrative and quite thriving in many countries especially in Asia, Africa and in Europe. Presently, every part of the coconut plant is useful for something, even the husk. According to Wikipedia; the outer shell of coconut fruit or coconut husk, is used to produce a number of important products. It is used to make coco husk chips, coco peat, coir fiber, and coco crush.
Research indicates that coconut farming is a long-term investment, and the crop can thrive through several family generations because the trees can continue producing coconuts for up to about 70 years or more. So, imagine having connections with at least 50 farmers, who have at least 50 producing trees each; one would be getting cool returns every season. When it comes to coconut plantation, countries such as Indonesia and the Philippines lead the world production with 17.13 and 14.77 million metric tonnes (mmt) while India and Sri Lanka follow with 14.68mmt and 2.47mmt, respectively.
Nigeria produces coconut in roughly 22 states, with Lagos leading the way with about 70 per cent of the country’s total production. Other states include Taraba, Akwa Ibom, Delta, Edo, Ekiti, Ogun, Ondo, and Oyo. A 2022 Business Day report stated that Nigeria stands to earn over N20b yearly from coconut derivatives, where a 10-hectare farmland of hybrid coconut can earn revenue of between N16 million to N20 million annually for the next 30 to 60 years. Now, here are five business ideas in coconut value-chain that one can embrace after getting to places where there are coconuts in abundance and can buy cheaply:
1. Resell to consumers: As a result of how nutritious its fruit is, coconut is usually in high demand in and out of season. You can think about having a fruit hub, where people can always shop for coconuts or better still, you can resell to supermarkets where they never run out of demand.
2. Sell to coconut oil producers: Cold-pressed coconut oil is used for cooking meals, vegetables and so on.
3. Start your own coconut oil business: Asides from cooking, coconut oil is highly in demand as it serves as a good moisturizer for the hair and skin. People, who produce self-care products, would patronise you often, if you are really good and honest with this line of business.
4. Invest in a coconut plantation farm: Agriculture would definitely demand something from you – which is labour, whether you want to farm or not – you can labour with efforts, money, resources and so on. So, if you don’t want to be directly involved, you can buy a coconut farm or invest land or money in an existing coconut farm, with your agreed profit in view.
5. Transport and distribute coconut fruits to companies: Transportation remains a perennial issue in agriculture. Identify a place, an area or a state where they plant more of coconuts and begin to offer transportation and distribution services to them. This way, you could even make more money than the farmer, who actually planted the crop.
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