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Wednesday, October 28, 2020

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,...

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...

Nigeria’s coffee consumption to rise 23% in 2020

Coffee consumption in Nigeria rose by more than 20% between 2010 and 2015. Euromonitor predicts Nigerians will drink more than 1,000 tons of coffee in 2020, 23% higher than last year. Nearly 10% of the world’s coffee still comes from the continent, but Nigeria, Africa’s...

Good news for African chocolate lovers as Ghana said to produce biggest cocoa crop in 3 years

Accra: Ghana has recorded its biggest cocoa harvest in three years, according to two people familiar with the matter, after better weather conditions boosted output in the world’s second-biggest cocoa grower. Graded and sealed deliveries from the so-called main crop, the larger of two...

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...

Heavy rains, black pod threatens Nigeria’s $764.7m cocoa output

By Tolani Awere Black pod thrives in wet conditions, causing trees to wither Cases recorded in Nigeria’s two main cocoa-growing regions Nigeria’s 2019-20 cocoa crop is threatened by an attack of the fungal black-pod disease due to the wetness created by persistent rains in the main cocoa-growing...

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...
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