Are you sure you'd like to remove this alert? You will no longer receive email updates about this topic.
Latest From Obafemi Oredein
The four major West African countries that account for about 70% of the world’s cocoa production, are currently experiencing their worst virus epidemic, which has the potential to damage the main crop harvest in the 2020/2021 season.
Following Ivory Coast and Ghana’s new cocoa price initiative, the Cocoa Association of Nigeria (CAN) explains how West Africa’s fourth largest producer can capitalize on the situation.
Top Nigerian cocoa researcher, Peter Aikpokpodion, believes that cocoa farmers in West Africa should not be poor, but rather, be some of the richest people in the world.
All four major West African cocoa producers-Ivory Coast, Ghana, Nigeria and Cameroon-had set 2020 as the year they hoped to process half of the cocoa they produce. While their governments have not made much progress in increasing local grinding, foreign conglomerates have.
Cocoa in the 2019/20 season is giving Nigeria a cause for concern, the president of the country’s cocoa association indicates.
Last year’s IEG Vu Global Outlook indicated that the unease which followed the drastic fall in global cocoa prices in 2017 and the new attempt by major producers to gain control of pricing, would likely continue in the year just ending.