Raw Cocoa Seed Processing And Export In Nigeria; The Feasibility Report.

Providing employment for a large section of the population, agriculture remains a major source of economic activity in Nigeria. Nigeria produced 242 000 tons of cocoa in 2008. The National Cocoa Development Committee (NCDC), made up of the 14 cocoa producing states in the country, has distributed new high yield cocoa seedlings to cocoa farmers, and continues to allow the purchase of chemicals and inputs at 50% subsidy.

Cocoa (Theobroma cacao L. ) is a native of Amazon region of South America. The bulk of it is produced in the tropical areas of the African continent. There are over 20 species in the genus but the cocoa tree Theobroma cacao is the only one cultivated widely.

Cocoa is the second major non-oil foreign exchange earner in Nigeria after leather. It is produced in fourteen {14} states of the federation namely Ondo, Cross River, Oyo, Osun, Ekiti, Ogun, Edo, Kogi, Akwa Ibom, Delta,  Abia, Kwara, Ebonyi and Rivers with an annual production rate of 240,000 metric tons {MT}.
Over 98% of the product is exported and it’s provides means of livelihood and employment to over five million {5,000,000} people.

In the year 2005 alone, export revenue from the sales of cocoa amounted to US $ 136.7 Million with Netherland, UK, France, Germany, Spain, Italy, USA and Japan being the major export destination. Other emerging markets include China and India.

One thousand, two hundered tons (1,200) of raw cocoa seed annually producing 408 tons of Cocoa Butter and 504tons of Natural Cocoa Cake for export. These components can be used to make different products.

Cocoa butter – Cocoa butter is used in the manufacture of chocolate. It is also widely used in cosmetic products such as moisturising creams and soaps.

Cocoa cake – Cocoa cake is the intermediate cocoa solids usually produced by hydraulic pressing   after removing the bulk of the fat (cocoa butter) from loaded cocoa liquor. The first   action is the breaking up of the cake, initially in sizable hard discs, into much smaller   pieces by passing them through rotating toothed rollers. Most processors sell the   resultant small lumps as ‘Kibbled’ cake. Kibbled cake can be pulverised and turned to cocoa powder by the process of grinding.

The business seeks to add value to raw cocoa seed by processing to yield Cocoa Butter and Natural Cocoa cake in partnership with a cocoa processing company.

Table of Contents

EXECUTIVE SUMMARY Business Overview 1.1 Description of the Business 1.2 Vision and Mission Statement 1.3 Business Objective 1.4 Value Proposition 1.5 Critical Success Factor of the Business 1.6 Current Status of Business 1.7 Description of the Business Industry 1.8 Contribution to Local and National Economy Marketing Plan 2.1 Description of product 2.2 Product Packaging and delivery 2.3 The Opportunity 2.4 Pricing Strategy 2.5 Target Market 2.6 Distribution and Delivery Strategy 2.7 Promotional Strategy 2.8 Competition Production Plan 3.1 Description of the Location 3.2 Raw Materials 3.3 Production Equipment 3.4 Production Process 3.5 Production Cost 3.6 Stock Control Process 3.7 Pre-Operating activities and expenses 3.7.1 Operating Activities and Expenses 3.8 Milestones Organizational and Management Plan 4.1 Ownership of the business 4.2 Profile of the promoters 4.3 Key Management Staff 4.3.2 Management Support Units 4.4 Details of salary schedule Financial Plan 5.1 Financial Assumption 5.2 Start up Capital Estimation 5.3 Source of Capital 5.4 Security of Loan 5.5 Loan Repayment Plan 5.6 Profit and Loss Analysis 5.7 Cashflow Analysis 5.8 Viability Analysis Business Risk and mitigation factor 6.1 Business Risks 6.2 SWOT Analysis

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