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Nigerian cocoa declines

This article was originally published in The Public Ledger

NIGERIA’S cocoa production is likely to fall by far more than 20% this season from last season’s 250,000 tonnes because of too much rain, the president of the cocoa association said. Speaking to Reuters after a cocoa conference in the city of Calabar in southeastern Nigeria, Sayina Riman declined to give a new estimate for how output would fall, but said it was likely to be worse than initially thought. Nigeria suffered its heaviest rains and worst flooding in 50 years in 2012, displacing millions and damaging cropland. Cocoa crops have been hurt by disease and early flowering.

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