The European Union, the largest market for cocoa from West Africa, will begin implementing its new regulation this year on deforestation-free products that require companies selling commodities, including cocoa, to prove they have not caused deforestation...
Nigeria’s cocoa exporters say they are also struggling to honour contracts, and many are suspending activities due to challenges, including a shortfall of cash to pay labourers and transporters.
Cote d’Ivoire’s cocoa farmers have confirmed that soil moisture on their lands should be sufficient to support the main crop over the next two months, despite the world’s top cocoa producer entering its dry season that lasts until March.
Barry Callebaut has announced it is extending its Cocoa Horizons programme in Nigeria, pledging to pay an additional amount of 26 million Naira ($40,841) in premiums for deliveries of sustainable cocoa beans in the 2021-2022 season.
Nigeria’s Minister of Agriculture and Rural Development, Dr Mohammad Mahmood Abubakar, has doubled down on the country’s pledge to increase its cocoa production from the present 340,000 tonnes to 500,000 tonnes by 2024.
Nigeria’s cocoa sector has renewed its efforts to join the Living Income Differential (LID) set up by neighbouring Ghana and Cote d’Ivoire to protect their farmers by increasing income.
Inspired by the decision of Ghana and Côte d'Ivoire to agree a premium price for their cocoa with buyers, Nigeria and Cameroon say they are looking at a similar initiative.
The joint venture, which will be renamed Alland & Sayaji, will aid access to a growing Indian economy and manufacturing sector, particularly in flavors, confectionery and beverages.
Nigeria is the world’s sixth largest cocoa producer, but has scope to significantly boost its output and processing capacity, according to a report by PricewaterhouseCoopers (PwC).
Retail value sales of chocolate confectionery in West African countries, like Nigeria and Cameroon, have experienced steady growth over the past five years, according to Euromonitor International.
Cocoa Ingredients supplier Transmar has called on cocoa and chocolate companies to make a donation to the Red Cross or Caritas to combat the spread of the Ebola virus in West Africa.
Hershey has launched an initiative to double the cocoa output in Nigeria, which is forecast to register a 20% decline this crop year due to adverse weather and diseases.
