28 C
Lagos, South Africa and New York
Wednesday, June 3, 2020

Heavy rains, poor sunshine dampen Nigeria’s 2018/19 cocoa outlook

Chijioke Ohuocha LAGOS, June 20 - Heavy rainfall and poor sunshine across Nigeria’s cocoa-growing regions raises the likelihood of black pod disease which would hurt the main crop this season, an industry body said on Thursday. Farmers in Nigeria, the world’s fourth-biggest cocoa grower, are...

Cameroon expects cocoa grinding to more than double in coming years

NGOMEDZAP, Cameroon, Aug 7 - Cameroon expects cocoa bean grinding to more than double in the next two to three years to 130,000 tonnes due to fiscal incentives for investors, its trade minister said on Tuesday. Cameroon, whose 253,000 tonnes of cocoa output last season...

Ivory Coast cocoa farmers unworried by low rainfall

ABIDJAN (Reuters) - High soil moisture content has protected Ivory Coast’s cocoa crops from below-average rainfall last week, farmers said on Monday, maintaining their hopes for an abundant main crop next season. Ivory Coast, the world’s top cocoa producer, is wrapping up its April-to-September mid-crop...

Strange climate change hammers Nigeria’s 2019/20 cocoa production by 5%

As Stakeholders worry over Nigeria's failure to tap $493 million cocoa potential Nigerian production for 2019/20 could dip about 3-5% to around 305,000 tonnes due to excessive rainfall, Riman said, estimating 2018/19 output at 310,000 tonnes. The International Cocoa Organization (ICCO) puts the 2018/19...

Nigeria sells 47% cocoa to Netherlands – NEPC

Executive Director, Nigerian Export Promotion Council (NEPC) Mr Olusegun Awolowo, has said that Nigeria sells 47 per cent of it’s Cocoa to the Netherlands. Awolowo said this while fielding questions from State House correspondents after a trade agreement between the Netherlands and Nigeria at...

Ghana 2018/19 cocoa output expected to drop 6 pct due to disease, drought

Ange Aboa SUNYANI, Ghana (Reuters) - Ghana’s cocoa output is expected to drop nearly 6 percent this season to 850,000 tonnes because of disease and dry weather, sources at the cocoa regulator, COCOBOD, said on Wednesday. ADVERTISEMENT Ghana previously forecast production of 900,000 tonnes, the same as...

NSE Lifts Suspension on Shares of FTN Cocoa Processors Plc

ASI Down 9%; NIBOR Moves in Mixed Directions … The Nigerian equities market tanked by 9%, reversing yesterday’s gain, on renewed sell-offs to close the week red At the end of trades, there were 19 losers against 18 gainers while on a year- to-date basis,...

Ghana, Ivory Coast leads Nigeria in Cocoa output, agree on 2019/20 export volumes

At a time Nigerian Cocoa producers are battling for survival due to government’s near negligence of the sub sector, Ghana and Ivory Coast are set to jointly decide on the volume and timing of cocoa exports by August for the 2019/20 season. According to the...

Nigerian local cocoa processors near bankruptcy as bank takeover assets

FTN Cocoa Processors Plc is facing a threat to its continuity as its bankruptcy issue heightens. The firm, which has not held any Annual General Meeting or declared dividends for the past two years, explained in a statement to the Nigerian Stock Exchange on Wednesday...

London July cocoa expiry sees 18,450 tonnes tendered

LONDON, July 17 - A total of 18,450 tonnes of cocoa was tendered against the ICE July London cocoa contract, exchange data showed on Tuesday. The delivery against the July contract, which expired on Monday, was mostly made up of 11,680 tonnes of cocoa from...