INVESTING IN PINEAPPLE PLANTATION IN IKA LAND

The
primary goal of any right thinking government is economic development through:
inward looking, self sufficiency, self reliance, rural development, increase in
foreign reserves through exports, to mention but just few.

               

In
order to achieve these beautiful goals, we need to divert our efforts toward
some areas which have long been neglected. It is therefore, a matter of urgency
for us to raise the awareness of people in this direction. 

               

The
capital required for the establishment of pineapple plantation/orchard is very
low when compared with some other investments especially as. Land requirement
is minimal. Pineapple project as a means of livelihood is needed for our
economic development.

               

Such
a project, will create employment opportunities, help in rural development,
launch the country on the path of self sufficiency, increase food production
and help in improving our health care delivery services. This is because people
can now take the right quality of food (pineapple contains a lot of vitamins
and minerals required for the proper functioning of human body systems). 

               

The
demand for pineapple is very high. With the establishment of fruit juice
processing factories all over the country in recent years, owners of pineapple
plantations have been enjoying very good patronage. It must be noted that there
exists a lot of export market potentials for pineapple. Reports have confirmed
that customers in industrialized countries are demanding for high quality
pineapples all the year round. Wealthy shoppers in overseas countries are
prepared to pay top prices for tropical pineapples. In 1987, an African
country, Kenya,
sold 36,500 tonnes of fresh fruits (pineapple inclusive) overseas worth $92m.
This is a great advantage Nigerian investors should grab.

               

Social
and economic benefits outlined above not withstanding, establishment of
pineapple plantation is yet another investment opportunity that Nigerian
investors should give a very serious consideration.

Production
Technology:

               

To
establish pineapple plantation/orchard, ownership of land is required. Land can
equally be leased by prospective investors. The land to be used should have the
required fertility to support the growth of pineapple. Right variety of
pineapple suckers should also be used.  

 

After
the above requirements have been met, appropriate beds are to be made after
which planting is done, using correct spacing and plant population.

               

Other
cultural practices include mulching, application of appropriate fertilizer and
weeding. Pineapple mature for harvesting as from the 12th month of
planting.

               

Investors
can be assisted as far as the management services are concerned on request.
Half- ripe fruits are harvested if the desired market is export market.
Planting is always done in the rainy season.

Financial
implication:

               

To
establish a 12 hectares
plantation, investors financial need is broken down as follows:

                                                                                                                                                                                                                                N

1.             Land Acquisition/Lease                                                                                                                                          430,000

2.             Land Preparation                                                                                                                                                    250,000

3.             Suckers (Planting material)                                                                                                                     300,000

4.             Fertilizer                                                                                                                                                                                 144,000

5.             Farm Cultural Practices                                                                                                                                          250,000

6.             Pre-Investments                                                                                                                                                      200,000

7.             Working Capital/Contingencies                                                                                                     1,400,000          

                TOTAL PROJECT COST                                                                                                            3,240,000

               

A
minimum of 100,000 fruits will be picked annually from 12 hectare pineapple
orchard/plantation.

               

At
conservative price of N60 per fruit
will envisage a minimum revenue of N6
million from this investment. It must be noted that a good pineapple fruit
sells as high as N150.

 

Regular income in millions of naira is guaranteed from
this project. Investors can make more money from export market and through the
sale of the pineapple suckers. The writer can assist investors in the
realization of the project.    

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