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Nigeria seeks to cash in on soaring cocoa prices

  • The Government has set a production target of 500,000 tonnes for the 2024-2025 cocoa season to rank fourth globally behind Ivory Coast, Ghana, and Indonesia.
  • Cocoa prices remain high at over $8,000 per tonne despite a fall from December's record of $12,000, influencing interest in Nigeria's cocoa industry.
  • Concerns have been raised about monocrop farming's sustainability, while efforts via the National Cocoa Management Committee aim to support Nigerian cocoa farmers.
  • Many local firms and stakeholders are showing interest in expanding cocoa production amid rising global prices, yet challenges in land and capital remain.
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InquirerInquirer
+61 Reposted by 61 other sources

Nigeria seeks to cash in on soaring cocoa prices

Abuja, Nigeria — Booming cocoa prices are stirring interest in turning Nigeria into a bigger player in the sector, with hopes of challenging top producers Ivory Coast and Ghana, where crops have been ravaged by climate change and disease. Nigeria has struggled to diversify its oil-dependent economy but investors have taken another look at cocoa

·Manila, Philippines
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Daily SabahDaily Sabah

With cocoa prices booming, Nigeria looks to cash in

Soaring cocoa prices are raising interest in turning Nigeria into a more impactful player in the sector, with hopes of challenging top producers Ivory...

·Türkiye
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Punch NewspapersPunch Newspapers

Nigeria targets 500,000 tonnes cocoa output to challenge global leaders

Booming cocoa prices are stirring interest in turning Nigeria into a bigger player in the sector, with hopes of challenging top producers Ivory Coast and Ghana, where crops have been ravaged by climate change and disease. Nigeria has struggled to diversify its oil-dependent economy but investors have taken another look at cocoa beans after global […]

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akelicious.netakelicious.net

NEPC Tasks Manufacturers To Explore Export Potentials — Akelicious

The Nigerian Export Promotion Council (NEPC) has tasked Nigerian manufacturers to seek information on how to enhance the export potentials of their products. Head of Product and Marketing Department of NEPC, Ogun State office, Hadiza Kashiat, gave the charge at a Strategic Focus Group meeting organised by the National Agency for Science and Engineering Infrastructure (NASENI) on made-in-Nigeria products in Abeokuta. She said one of the major pro…

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Eco-BusinessEco-Business

Hand pollination helps cocoa farmers offset climate harm

As global warming threatens cocoa production by pushing temperatures beyond optimal levels, manual pollination offers a promising solution to boost yields and support millions of smallholder farmers.

·Singapore
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JeuneAfrique.comJeuneAfrique.com

Nigeria wants to take advantage of the high price of cocoa to revitalize its production - Jeune Afrique.com

Nigeria, the world's seventh largest cocoa producer, has set an ambitious production target of 500,000 tonnes for the 2024-2025 season.

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Springer broke the news in United States on Monday, January 1, 2024.
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