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Nigeria’s cocoa exports to drop by $100m over rising price in futures market.

Based on the global cocoa price at the future market, Nigeria is predicted to lose $100 million in cocoa export, experts tell Naija247news. Cocoa is among Nigeria’s leading agricultural exports and constitutes 2% of its exports annually. It is the country‘s third largest export...

This Africa’s Cocoa Producer Weighs Increase in Bean Quality Premium

By Baudelaire Mieu Top grower may double origin differential as prices fall Country sees widening quality gap over some other producers Ivory Coast is weighing an increase in the premium that it charges for the quality of its cocoa to as much as double the current margin,...

Maize, soya beans farmers to benefit from N3.5bn fund in Ekiti

Maize and Soya Beans farmers in Ekiti will benefit from a support fund of N3.5 billion in the current planting season. This was disclosed in Ado Ekiti on Tuesday by the Managing Director of a Netherland-based firm,Terra Agricultural Support Company, Mr Reye Haveman, at...

UK wheat exports slow in January despite Nigeria sale

LONDON, March 11 - British wheat exports fell in January but are still running well ahead of last season's pace, customs data showed on Wednesday. Wheat exports for the month totalled 50,281 tonnes, down from the previous month's 96,111 tonnes. Spain was the most important...

Gold set for sustained rally in 2020 commodities ‘shift’: Gainesville

London — Commodities markets look set for a cyclical shift in 2020, which may be bearish for most but bullish for gold, according to Everett Millman, precious metals specialist with US-based bullion dealer Gainesville Coins. Gold's price may average $1,600/oz in 2020 in a...

Nigeria becomes largest producer of soya beans in SAA as market value hits N353.1bn

alue of Nigerian soybean oil seed in global market reached N353.1billion ($967. 5million) between January 2018 and October 2019. Currently, the global price of the oil is $450 per tonne as at November 2019. Already, soybean oil has become the major ingredient in the...

Wheat import to Nigeria hits N31.47bn

U.S. moves to edge out Russia Three years after, United States wheat supply to Nigeria is gradually bouncing back following Russia’s weak supply in the global market. Currently, no fewer than 343, 574 metric tonnes of the grain valued at N31.47...

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...

New Cocoa-Pricing Method Makes for a Hot Commodity

Rally is driven by uncertainty over a plan designed to aid farmers in Ghana and Ivory Coast By Joe Wallace Cocoa prices are surging as traders grapple with a new method for pricing exports designed to alleviate poverty among farmers in Ivory Coast and Ghana, the...

Why Nigeria’s plans to partner Cameroon on cocoa premium will not work

* The two countries have had informal talks - producer group * Move comes after Ivory Coast, Ghana moved to lift prices * Cameroon trade ministry unaware of plan, trader sceptical (Adds quotes, details) By Chijioke Ohuocha LAGOS, Oct 10 - Nigeria aims to team up with...
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