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    Monday, 17 September 2018 08:53

    Cocoa: A Fast Selling Agricultural Product By: Peter Owinje SCF Agric Unit Director

    Picture credited to: Advance Cote I'dvoire It is better for any investor to invest his or her capital on products that will become a great source of income.One of such products is cocoa. It is one of the profitable investment opportunities in agriculture. Cocoa is an indispensable ingredient for chocolate and beverages such as Milo, Bournvita, etc. Without cocoa, no Milo or Bournvita; it is the major ingredient that makes their production possible.Both beverages and chocolate are in high demand all over the world; this explains why cocoa farming is a great source of income to cocoa farmers. It is worthy of note that before the discovery of crude oil cocoa was one of the major sources of income in Nigeria.Then, Nigeria remained one of the top producers of cocoa in the world, but it is unfortunate that after the discovery of crude oil, Nigeria neglected agricultural productionentirely.This, as a result, has affected the production of cocoa in the country. At this point, it is sad to note that Nigeria which was once the largest producer of cocoa in the world is now ranked Number 8 in the world.This is not acceptable to Sunlight City Foundation, and it explains why we encourage our members across the nation who are interested in farming to go into it with full force to increase agricultural production in the country.We aim to contribute our quota towards food security and exportation of quality agricultural products. Since the discovery of crude oil, Nigeria has depended on it as a major single source of income, neglecting cocoa which is the second largest foreign exchange earner for the nation after oil. In fact, many people do not want to go into farming any longer, they all want to make money from oil, unknown to them that one can make a lot of money from cocoa. No matter how large the quantity harvested for sale is, they can be sold in a day. The demand for cocoa beans is always higher than the supply. Without any element of doubt, Sunlight City Foundation believes that there are dangers for the economic well-being of a nation which relies majorly on a single source of income.Hence, Sunlight City Foundation is using this medium to emphasize the specific importance of cocoa to the economic development or transformation of our nation. It is also worthy of note that the price of a bag of cocoa is higher than the price of a barrel of crude oil. A bag of cocoa is probably sold for $200 while a barrel of crude oil is currently sold for $80; you can imagine the price difference.Indeed, cocoa farming can create a lot of wealth for youas an individual and the entire nation. There are programmes on ground in Sunlight City Foundation to encourage our interested members to go back into agriculture because we believe that agriculture can aid the development of many industries and the Nigerian economy in general. It is a fact that with 75% of world production, Africa is still the world’s major producer of cocoa. Nigeria should help reclaim her position in this regard. Unfortunately, Africa hosts about 38 poorest nations out of 48 in the world, notwithstanding the fact that it controls 75% of world production of cocoa.Yes, Africa is not able to access even 5% value of the US $100 billion chocolate annual market. As a result of this, it is not too much to say ‘Monkey de work, baboon de chop.’ However, the truth is that we lack modern equipment, processing facilities, methodology, branding and packaging initiatives which account for the aforementioned result. Therefore Nigeria, and in fact Africa, lacks value added methodology, culture and the engine to wealth creation, better economy, employment generation, foreign earnings, high export drive, environment with good production and services, all of which are potential factors that can affect the success of agricultural production. Once again, we are forced to take trash, left overs; to combine even fake products because of our poor orientation, lack of foresight and not being proactive in terms of globalization to chart the work road map. We have the population, reliable market, high consumption drive, etc. that will make agricultural production successful, but poor production and manufacturing scenario with massive importation of all kinds of products such as toothpick, matches and so on, may reduce high profitability in agricultural production. However, be that as it may, cocoa still remains a fast selling agricultural product in the global market.vv
    Read 160 times Last modified on Wednesday, 19 September 2018 16:41

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