Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Politics

Nigeria Cocoa Output Seen Below Target as Dry Weather Bites Hard

Editor by Editor
August 24, 2015
in Politics
AFEX cocoa
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

INEC officially extends Continuous Voter Registration pending further directives

Fayose insists on a Southern president in 2023, unlikely to support Atiku

  • Early pods for Nigeria’s main cocoa crop were scorched by dry weather in the country’s southwest, the leading producing region, making it unlikely the official output targets would be met, farmers said.

“Rainfall has been very sparse and scanty for upwards of eight weeks now,” Sola Akingbade, a cocoa farmer based in the town of Yewa, about 100 kilometers (62 miles) north of the commercial capital, Lagos, said by phone on Friday. “The resultant dry weather has scorched the first fruits on the cocoa trees in my farm.”

  • The West African nation set a goal to produce 500,000 metric tons of the chocolate ingredient from the 2014-2015 season as new fields replanted with quick-maturing varieties started producing. It’s currently the world’s number four producer after Ivory Coast, Ghana and Indonesia, with a government-estimated output of 350,000 tons in the 2013-2014. The International Cocoa Organization estimates Nigeria’s output at 240,000 tons for the same period.
  •  Nigeria has two cocoa harvests, one for the smaller midcrop from April to June, and the other for the main crop from October to December.
  • In the Idanre district of Ondo state, which accounts for a third of Nigeria’s output, maturing pods are at risk of falling off trees if the dry spell continues for two weeks, according to Johnson Igbekele, a farmer in the area who spoke by phone.

“Nearly all the ripening buds on the trees are drying up,” he said on Friday. “The ones among them that have developed to pods are beginning to change color due to insufficient rain.”

  • Cocoa-bean exports from Nigeria have shown a steady decline since April compared with figures for the 2013/2014 season. July shipments fell 75 percent from the previous year to 2,983 tons, according to data provided to Bloomberg by ports inspection and shipping officials. All exports were shipped to Europe with the Netherlands the biggest recipient with 2,618 tons.
  • Bloomberg

Related

Tags: News ReviewNigeria

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Financial steps you must take in your 40s to be rich
    • Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier
    • How will the Lagos Real Estate market perform in H2 2022?

    Follow us on social media:

    Recent News

    Financial steps you must take in your 40s to be rich

    Financial steps you must take in your 40s to be rich

    July 3, 2022
    Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier

    Nigeria’s Israel Adesanya set to earn up to $1.8million for defeating Jarred Cannonier

    July 3, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com