MILAN – Nigeria’s cocoa production grew from 250,000 MT in 2011 to 370,000 MT by 2013 (a 48 per cent growth), and our cocoa exports earned over $900 million, according to the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina.
Adesina in a statement in Abuja said Hersey, a global company is investing $20 million to procure cocoa from over 20, 000 certified cocoa farmers. Adesina said: “We will soon launch the Cocoa Corporation of Nigeria, a privately run commodity board, which will further spur growth and investment in the cocoa sector, including cocoa investment funds to boost local processing and value addition.”
In other news, Ghana plans to raise its fixed cocoa price next season to a level which ensures smuggling into neighbouring grower Ivory Coast is not attractive, the chief executive of cocoa sector regulator Cocobod said.
Ghana’s falling cedi currency has fuelled smuggling of cocoa into Ivory Coast since October, reversing a trend.
