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.

Which country does Nigeria export cocoa to?

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$)

How much cocoa does Nigeria Export?

Cocoa beans account for almost 90% of the 804 million USD of Nigerian cocoa exports. Cocoa butter and cocoa paste are also exported quite significantly (respectively 67 million and 28 million USD).

Does Nigeria export cocoa beans?

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. … In 2010, Cocoa production accounted for only 0.3% of agricultural GDP.

IT IS INTERESTING:  What language is used in Ghana?

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?

Ondo is rated the largest cocoa producing state with an output capacity of about 77,000 tons per annum. Other producing states include Cross River, Kwara, Akwa Ibom, Ebonyi, Abia, Rivers, and Adamawa.

Who is the largest exporter of cocoa?

In 2019, Ivory Coast was the world’s leading cocoa bean exporter, based on export value. That year, the Ivory Coast exported about 3.57 billion U.S. dollars worth of cocoa beans worldwide.

Leading cocoa bean exporters worldwide in 2019 (in million U.S. dollars)

Export value in million U.S. dollars

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.

How much is cocoa seed in Nigeria?

1 Tonne of cocoa at Idanre, Ondo State: ₦740,000 – ₦760,000. 1 Tonne of cocoa at Ore, Ondo State: ₦730,000 – ₦750,000. 1 Tonne of cocoa at Ife Central, Osun State: ₦730,000 – ₦750,000. 1 Tonne of cocoa at Akoko Edo, Edo State: ₦730,000 – ₦760,000.

IT IS INTERESTING:  What is the Nigerian name for quinoa?

How many times do you harvest cocoa in a year?

The pods on a tree do not ripen together; harvesting needs to be done periodically through the year. Harvesting occurs between three and four times weekly during the harvest season.

Which countries import cocoa beans?

Where does Australia import Cocoa and cocoa preparations from?

  • Singapore with a share of 16.4% (115 million US$)
  • Germany with a share of 13% (91 million US$)
  • Italy with a share of 8.92% (62 million US$)
  • Indonesia with a share of 8.29% (58 million US$)
  • Malaysia with a share of 7.47% (52 million US$)

5.04.2021

Who buys cocoa beans?

In the previous year, the Ivory Coast exported about 3.58 billion U.S. dollars worth of cocoa beans worldwide.

Leading cocoa bean importers worldwide in 2020 (in million U.S. dollars)

Characteristic Import value in million U.S. dollars
Italy 302.29
Spain 261.96
Canada 259.33

Is cocoa business profitable in Nigeria?

Cocoa production is one of the oldest agricultural businesses in the world. It’s a profitable business with the potential to generate income in different ways. More so, it was one of the main foreign exchange products in the Nigerian economy before the oil boom.

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.

Where is cocoa mainly grown?

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.

IT IS INTERESTING:  Frequent question: What was salt used for in Ghana?
Hai Afrika!