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Thursday, July 16, 2020

NSE Lifts Suspension on Shares of FTN Cocoa Processors Plc

ASI Down 9%; NIBOR Moves in Mixed Directions … The Nigerian equities market tanked by 9%, reversing yesterday’s gain, on renewed sell-offs to close the week red At the end of trades, there were 19 losers against 18 gainers while on a year- to-date basis,...

Cameroon expects cocoa grinding to more than double in coming years

NGOMEDZAP, Cameroon, Aug 7 - Cameroon expects cocoa bean grinding to more than double in the next two to three years to 130,000 tonnes due to fiscal incentives for investors, its trade minister said on Tuesday. Cameroon, whose 253,000 tonnes of cocoa output last season...

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...

Ondo govt. distributes 20,000 cocoa seedlings to farmers in Isua-Akoko

By Alaba-Olusola Oke Akure, July 13, 2020 No fewer than 100 cocoa farmers in Isua-Akoko, on Monday, benefitted from the 20,000 free hybrid cocoa seedlings, donated by the Ondo State government. NAN reports that the distribution exercise was the core target of the Cocoa Revolution...

Ivory Coast to auction cocoa crop in advance to guarantee price for season

Ange Aboa ABIDJAN (Reuters) - Ivory Coast’s Cocoa Coffee Council (CCC) has decided to auction all of its cocoa production to exporters in advance in order to set a guaranteed price throughout the season for producers, CCC sources said on Wednesday. Approximately 1.7 million tonnes of...

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...

Steep New York cocoa premium drives demand for African shipments -traders

NEW YORK/LAGOS, May 14 - Cocoa dealers are snapping up West African beans for import to the United States, according to trade sources, as they seek to profit from the steepest premium for the chocolate ingredient in over 40 years in the New...

Nigeria Moves to Improve Cocoa Sector

Economy Monday, June 11,2018 C ocoa House in Ibadan, southwest Nigeria, was built with the earnings from exports of cocoa beans and at 26 storeys was once the country’s tallest building. Profits from sales of the commodity–prized around the world as the basic ingredient for chocolate–used to...

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...

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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