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Saturday, June 6, 2020

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...

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...

Rains swell Ivory Coast cocoa crop

Abidjan — Mixed rains fell over Ivory Coast’s cocoa-growing regions last week, farmers said on Monday, with more showers needed in some areas to boost the April-to-September mid-crop. The rainy season in the world’s biggest cocoa producer runs from mid-March to late October, with heavy...

London March cocoa expiry sees 120,120 tonnes tendered

LONDON, March 17 (Reuters) - A total of 120,120 tonnes of cocoa was tendered against the ICE March London cocoa contract, exchange data showed on Friday. The delivery against the March contract, which expired on Thursday, was mostly made up of 90,450 tonnes of cocoa...

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...