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New Nigerian high

This article was originally published in The Public Ledger

PRICES of graded cocoa in southwest Nigeria have risen to an all-time high of N380,000 ($2,507) to N400,000 a tonne, up from N370,000 a tonne last week. A trader in the city of Akure attributed the rise in prices to the depreciation of the naira against the dollar.The Nigerian currency has lost more than 20% of its value in the past two months alone.

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