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Lagos, South Africa and New York
Sunday, August 9, 2020

Gold retreats from near eight-year peak as dollar rebounds

Gold dipped on Tuesday as investors booked profits after bullion rallied to a near eight-year peak and as demand for dollars rose amid a new surge in COVID-19 cases. Spot gold slipped 0.3% to $1,777.72 per ounce after earlier touching a high of $1,786.91, just...

Gold hits 1-month peak as rising virus fears boost demand

Gold jumped to its highest in more than a month on Monday as investors sought the safe-haven metal after surging coronavirus cases intensified concerns over a delay in global economic recovery. SPDR Gold Trust holdings rose 2% on Friday Specs raise gold bullish positions in week...

Farmers lament as Covid-19 Pandemic hammer Nigeria’s maize output by 30%

Maize output is expected to fall this year by 30%, from projected 25 million metric tonnes to 17.5 million tonnes, Nigeria farmers have said. “Our projection for this year was formally 25 million tonnes, but because of COVID-19 challenges we have realized that it will...

Soybeans Market 2020 Industry Analysis, Size, Share, Growth, Trend and Forecast to 2026

A new research report titled, Global Non- GMO Soybeans Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2026 offers significant and profound insights into the present market scenario and the emerging growth dynamics. The report provides the global Non- GMO Soybeans market...

Nigeria’s cocoa mid-crop output seen weak as coronavirus disrupts farmers exports creating backlog of unshipped beans

Chijioke Ohuocha ABUJA, May 15 - Nigeria’s cocoa mid-crop output is expected to be weak as measures to curb the spread of the coronavirus hindered farmers and exporters, creating a backlog of unshipped beans, the president of the cocoa association said. Mufutau Abolarinwa told Reuters...

London May cocoa expiry sees 20,330 tonnes from Nigeria, others tendered

LONDON, May 14 - A total of 20,330 tonnes of cocoa was tendered against the ICE May London cocoa contract, exchange data showed on Thursday. The delivery against the May contract, which expired on Wednesday, comprised 8,280 tonnes of cocoa from Cameroon, 5,080 tonnes...

Nigeria invests $500m to boost palm oil plantations to 5 million tons

Nigeria plans to invest 180 billion naira ($500 million) to increase its palm oil production from around 600,000 tons a year to 5 million tons a year by 2027, reports Bloomberg. The policy, laid out in a report from Nigeria’s trade and investment ministry, aims...

30,000 tons of Nigeria cocoa exports stalled over Covid-19 safety protocols

Health protocols introduced by Nigerian authorities to curb the spread of the Covid-19 disease have delayed cocoa exports, leaving at least 30,000 tons stranded at the Lagos port and in warehouses. Under rules introduced by shipping regulators, crew of vessels entering the country’s waters are...

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,...
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