Nigeria to benefit from $67b cocoa market - The Nation Newspaper

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Nigeria to benefit from $67b cocoa market

A senior official of the Nigerian Export Promotion Council , who craved annonimity, said President Muhammadu Buhari is collaborating with the governors of cocoa producing states and other stakeholders to reposition the industry so that the country could benefit from the multibillion dollars global cocoa market and chocolate market this year.

“I am happy to inform you and the public that the President Muhammadu Buhari-led administration has continues to drive the diversification process. Also, efforts to reposition the country’s cocoa export with a view to increasing production and meeting the requisite internationally accepted standards for export into European Union and the US is gradually yielding results. At present, cocoa is the leading major agricultural export of our nation.

“As at 2015, while Cote D’Ivore and Ghana boast of production level of about 1.7 million metric tons and 800,000 metric tons, Nigeria’s production still hovers around 220,000 to 250,000 metric tons, yearly. “As the demand for chocolate increases, the use of cocoa powder will rise simultaneously. Moreover, cocoa powder is the most versatile ingredient in processed food. Health benefits associated with cocoa powder and growing demand for indulgent and premium chocolate offerings are augmenting demand for cocoa and chocolate products.

 

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