Top export destinations of “Cocoa beans, whole or broken, raw or roasted.” from Nigeria in 2019: Netherlands with a share of 43% (109 million US$) Germany with a share of 18.3% (45 million US$) Indonesia with a share of 11.9% (29 million US$)
Does Nigeria export cocoa?
According to the Nigerian Export Promotion Council, cocoa products account for over $800 million in exports for Nigeria, with cocoa beans making up about 90% of that. Cocoa is also Nigeria’s third-largest export after crude oil and petroleum gas.
Does Nigeria import cocoa?
Nigerian cocoa is most commonly exported as powder, raw cocoa beans, cocoa cake, and finally cocoa butter. … Although Nigeria and the African continent produces most of the world’s chocolate in its raw form, Nigerians still import the finished product.
Which state is the largest producer of cocoa in Nigeria?
The top growing states Ondo, Ogun, Osun, Oyo and Ekiti account for about 60% of the cocoa production and make up at least 30% of the total cocoa export in Nigeria. Ondo is rated the largest cocoa producing state with an output capacity of about 77,000 tons per annum.
Who is the largest producer of cocoa?
Production in Côte d’Ivoire, the world’s largest cocoa bean producer, should grow by 2.3 percent a year from 1.2 million tonnes of the base period to 1.6 million tonnes in 2010, and account for 44 percent of global cocoa production due mainly to the increased foreign direct investment followed by the market …
Who is the first man to plant cocoa in Nigeria?
Captain JPL Davies’ cocoa lessons. Sometime in April 1916, a note was published in the Journal of the African Society stating that the first person to plant cocoa in West Africa was ‘a native of Africa’ who planted the crop in the 1880’s.
How much is a ton of cocoa in Nigeria?
Prices of Cocoa in Nigeria Today
As it stands, a tonne of cocoa sells for anything between N700, 000 – N750, 000 depending on the location of purchase. Below is a breakdown of the prices of cocoa per tonne in different cocoa-producing areas in Nigeria.
Why does Nigeria supply cocoa?
Reasons to buy. Nigeria is a major exporter of premium quality raw cocoa beans renowned for its aromatic and smoother flavor, because of the variety stock from which it originates. We can guarantee a reliable and sustainable supply base.
Can coca plant be found in Nigeria?
Coca is one of the plants that you can actually grow in Nigeria and make a lot of money out of it. Though it is mostly grown in the South American region, coca can also be grown in Nigeria and produce good yields.
Is cocoa grown in Nigeria?
Cocoa production is important to the economy of Nigeria. Cocoa is the leading agricultural export of the country and Nigeria is currently the world’s fourth largest producer of Cocoa, after Ivory Coast, Indonesia and Ghana, and the third largest exporter, after Ivory Coast and Ghana.
Which country imports the most cocoa?
In 2020, the Netherlands was the world’s leading cocoa bean importer, with imports valuing about 2.28 billion dollars. In the previous year, the Ivory Coast exported about 3.58 billion U.S. dollars worth of cocoa beans worldwide.
How much is a ton of cocoa?
The size of each cocoa contract on the NYMEX is 10 metric tons.
How much money does a cocoa farmer make?
Many cocoa farmers earn less than $1/day. Farmers are often unable to bear the costs of cocoa farming, turning instead to child labour.
Which country is famous for cocoa?
About 70 percent of the world’s cocoa beans come from four West African countries: Ivory Coast, Ghana, Nigeria and Cameroon. The Ivory Coast and Ghana are by far the two largest producers of cocoa, accounting for more than 50 percent of the world´s cocoa.
Who has the best cocoa in the world?
Ecuador is home to some of the best cacao beans in the world. Only approximately 5% of cacao in the world is labeled as “Fine Aroma,” and Ecuador produces nearly 63% of it.
What is the best cocoa in the world?
Rare cacao varietals such as Nacional and Porcelana have been found in parts of northern South America, and many people regard those as some of the best cocoa beans in the world. The Caribbean island of Trinidad only grows trinitario cacao, a highly flavorful type of cacao developed on the island hundreds of years ago.