• About Us
  • Contact Us
  • Privacy & Policy
Sunday, September 7, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Coconut Price Hike: Demand for Fruit Skyrockets as Health-Conscious Nigerians Drive Market Surge

Vincent Amadi by Vincent Amadi
September 5, 2024
in Economy
Reading Time: 4 mins read
A A
0
Coconut Price Hike: Demand for Fruit Skyrockets as Health-Conscious Nigerians Drive Market Surge
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


Changing lifestyles are increasing the demand for coconuts, forcing Nigerian farmers to increase investments to capitalize on the coconut market.
Health-conscious Nigerians are turning to coconuts to treat diabetes, weight loss, high blood pressure, and premature aging.
As revealed by Grand View Research, a research firm, the global coconut market is expected to reach $20.24 billion in 2022 and grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030.
According to Statista, global coconut production was 62.41 million tonnes.
Based on data from the Food and Agriculture Organization (FOA), Nigeria ranks 18th in the global coconut production index, producing about 225,526 tonnes of coconuts in 2021. Lagos, which produces half of the production, has doubled its production from 70,000 tons to 140,000 tons in the last 20 to 30 years to meet demand.
Farmers said the number of registered coconut processors in Lagos state has increased from 500 to 3,000 in the five years to 2024.


“Lifestyle and healthy living are fueling a huge demand for coconut products locally and globally,” John-Bede Antonio, chairman and founder of First African Coconut Company Limited, said in an interview.
Antonio noted that the huge demand has led to increased investments across the value chain as farmers grow more coconuts to meet the growing demand.
“The production of coconut is rising in the country. Several farmers are now deliberately going into coconut production and making huge investments in its cultivation to meet demand,” he said.
He added that the Lagos State Government is also providing support to new farmers in the form of seedlings and training.
Coconut farmers are now replacing old trees with hybrid seedlings that fruit faster.
Coconuts have a variety of uses, they serve as raw materials for industries such as pharmaceuticals, cosmetics, food, and beverages, and the domestic and export potential is endless. The most popular ingredient of this fruit is coconut water, which is very rich in potassium and other electrolytes. It is considered a healthy drink and is especially recommended for diabetics.


Coconut is grown in 22 of Nigeria’s 36 states, with Lagos being the largest producer.
Mr. Olakulehin Oladapo, General Manager, Lagos State Coconut Development Authority (LASCODA), said, “The use of coconut oil and other derivatives is growing daily owing to its health benefits,”
He said more people in major producing states are now involved in the cultivation, processing, and distribution of this marketable fruit, which is boosting local coconut production. He confirmed that the number of registered coconut processors in Lagos State has increased from 500 almost five years ago to 3,000 today, noting that this increase has led to an increased demand for coconut commodities.
Oladapo explained that despite increased production, the state is still unable to meet the demand, which is mostly met through imports from neighbouring countries.
National Treasurer, National Association of Nigerian Coconut Growers, Processors and Marketers (NACOPPMAN), Idowu Agbelekale said, “Increasing demand is driving new investments into the production and processing of coconut in the country,”


She explained that entrepreneurs are already exporting some of the by-products of the crop on a small scale.
Agberekare said Nigeria is yet to fully realize the economic benefits of cultivating the crop, despite its huge potential, and urged the government to increase production of the crop to earn foreign exchange for the country.
The Lagos State Government is also helping farmers get better seedlings as it plans to remain a leader in growing the produce in the country while creating jobs and increasing supplies to processors.
Coconut fibre, a fibre from the coconut shell, is used to make ropes, carpets, mats, brushes, bags, seal boats, and stuffing for fibre mattresses.
The leaves (foliage) are used for brooms and skewers, woven into mats, or burned to ash to make lime. The shells and husks are used to make charcoal, which can be used as fuel.
Chinwe Chukwu, an accountant at a manufacturing company in Ikeja, told Journalist, “I started using coconut oil on my hair in 2022 owing to its health benefits and have not applied any other oil to my hair since then.”
Experts say the increased demand is being felt by all industries that use coconut as an input, suggesting prices will continue to rise.
According to a Reporter’s Lagos market survey, the price of coconut has increased by more than 100 percent from an average of 250 naira in January 2024 to an average of 500 naira for a small size now.

Tags: business
Vincent Amadi

Vincent Amadi

Related Posts

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

2 weeks ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

2 weeks ago
Grant tax relief to media houses —Ex-NNPCL spokesman tells FG
Economy

Grant tax relief to media houses —Ex-NNPCL spokesman tells FG

3 weeks ago
Rice farmers blame middlemen for continuous price hike
Economy

Rice farmers blame middlemen for continuous price hike

3 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark
National

Nigeria slipping into full-blown dictatorship — PDP governors

22 hours ago
El-Rufai on Tinubu’s Economic Policies: 30m Nigerians in Poverty
National

Tambuwal to El-Rufai: Honour police summons, freedom of assembly is constitutional

22 hours ago
Tambuwal’s arrest is political witch-hunt – Sokoto PDP
National

We engaged bandits through backdoor approach in my tenure – Tambuwal

22 hours ago
I tried to broker peace between Kwankwaso, Ganduje – Kano Rep, Jibrin
National

2027: Rep Abdulmumin Jibrin hints dumping Kwankwaso and NNPP for Tinubu

22 hours ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election
National

Presidency telling lies – ADC blasts Tinubu over revenue claims

2 days ago
Kaduna: Police violating Nigeria’s constitution – El-Rufai reacts over summon
National

Kaduna: Police violating Nigeria’s constitution – El-Rufai reacts over summon

2 days ago

POLITICS

Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark

Nigeria slipping into full-blown dictatorship — PDP governors

22 hours ago
Obi’s one-term pledge is Atiku’s idea – Kenneth Okonkwo

Obi’s one-term pledge is Atiku’s idea – Kenneth Okonkwo

22 hours ago
Seven Akwa Ibom Lawmakers Defect to APC, Citing Party Divisions

Distractions can not stop Tinubu –  APC Chairmen

2 days ago
APC Chieftain Eze Slams Rivers LG Poll as Sham, Hails Voters’ Boycott

APC Chieftain Eze Slams Rivers LG Poll as Sham, Hails Voters’ Boycott

5 days ago
Former AGF Malami’s convoy attacked by thugs in Kebbi

Former AGF Malami’s convoy attacked by thugs in Kebbi

5 days ago
APC sowing discord in opposition parties – Ex-Tinubu campaign coordinator Marafa

APC sowing discord in opposition parties – Ex-Tinubu campaign coordinator Marafa

5 days ago

YOUR ECONOMY

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

2 weeks ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

2 weeks ago
Grant tax relief to media houses —Ex-NNPCL spokesman tells FG
Economy

Grant tax relief to media houses —Ex-NNPCL spokesman tells FG

3 weeks ago
Rice farmers blame middlemen for continuous price hike
Economy

Rice farmers blame middlemen for continuous price hike

3 weeks ago
Naira appreciates against dollar on the weekend
Economy

Naira appreciates against dollar on the weekend

3 weeks ago
Largest shea butter refinery in Africa begins operation in Niger State
Economy

Largest shea butter refinery in Africa begins operation in Niger State

4 weeks ago

E & P

Chelsea Push £78m Fermin Lopez Transfer Bid
Sports

Chelsea Push £78m Fermin Lopez Transfer Bid

by Steven Atogi
1 week ago
0

Chelsea intensify pursuit of Fermin Lopez after Maresca’s talks with Barcelona midfielder Chelsea tabled a fresh £78m bid for Barcelona...

The Rise And Fall Of Sports Institute, Isaka

The Rise And Fall Of Sports Institute, Isaka

2 weeks ago
KTF Launches Free Youth Tennis Clinic in Port Harcourt

KTF Launches Free Youth Tennis Clinic in Port Harcourt

3 weeks ago
‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

3 weeks ago
NPFL Suspends S’Eagles Goalkeeper Over Betting Allegations

NPFL Suspends S’Eagles Goalkeeper Over Betting Allegations

4 weeks ago
CAF Ranking: Rivers United Emerged Top club in Nigeria

CAF Ranking: Rivers United Emerged Top club in Nigeria

4 weeks ago

YOUR THOUGHT & HISTORY

The Rise And Fall Of Sports Institute, Isaka
Columns

The Rise And Fall Of Sports Institute, Isaka

by Tammy Opoki
2 weeks ago
Tribute to Old Port Harcourt Boy (Peter Rufai)
Columns

Tribute to Old Port Harcourt Boy (Peter Rufai)

by Tammy Opoki
2 months ago
A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent
Columns

A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent

by Odini Brains
2 months ago
El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
2 months ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
2 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark

Nigeria slipping into full-blown dictatorship — PDP governors

September 6, 2025
Obi’s one-term pledge is Atiku’s idea – Kenneth Okonkwo

Obi’s one-term pledge is Atiku’s idea – Kenneth Okonkwo

September 6, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address