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Latest From Obafemi Oredein
Five years ago, the rehabilitation of the more than half-a-century old Oda cocoa estate began in Nigeria, under a Cocoa Revolution Programme (CRP). This has paved the way for the first chocolate factory in the West African country.
Cocoa producers in West African countries face an uncertain future as climate change threatens the crop’s sustainability.
As the West African country aims to produce 1-1.5 million tonnes by 2020 as well find new markets for its processed cocoa, Ghana is also looking to boost its collaboration with China within the sector.
In the next 2-4 years, key West African cocoa producers are set to grind more of their own cocoa and earn a bigger share of the cocoa and chocolate sector.
Nigeria has made efforts for almost two decades to increase its cocoa production to half a million tonnes but has yet to succeed.
The global cocoa industry witnessed some market-shaping headlines in 2017 with some of these events set to impact the outlook for 2018.