Cocoa Prices Rise in Nigeria’s Ekiti State, Steady in Akwa Ibom


IBADAN, Nigeria–Prices of cocoa have risen this week in Nigeria’s Ekiti state but remain steady in Akwa Ibom state, traders said Thursday.

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Graded cocoa is trading in Ekiti state, one of the five key cocoa-producing states in the southwest region, at 850,000 Nigerian naira ($2,068) a metric ton, from NGN830,000 a fortnight ago, a trader said.

Meanwhile, cocoa prices remain steady in Akwa Ibom state, one of the three cocoa-producing states in the country’s southeast region at NGN800,000, according to Bassey Ekikere, a trader in Uyo, the state’s capital.

Graded cocoa has been inspected and certified as fit for export by government produce inspectors.

By Naija247news
By Naija247news
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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