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?
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.
How many tonnes of cocoa does Nigeria produce?
According to the report, Nigeria produced approximately 238 thousand tons of cocoa beans in 2012/2013 and is expected to produce 270 thousand tons in 2020/2021.
Which country does Nigeria export cocoa to?
Nigeria exports of cocoa and cocoa preparations to Switzerland was US$482.73 Thousand during 2018, according to the United Nations COMTRADE database on international trade. Nigeria exports of cocoa and cocoa preparations to Switzerland – data, historical chart and statistics – was last updated on July of 2021.
Which state is the largest producer of cocoa in Nigeria?
Ondo state is the largest producer of cocoa in Nigeria. The state records an output capacity estimated at 77,000 tons per annum.
How much is cocoa price 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.
Where is Cocoa mostly 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.
Is cocoa farming profitable in Nigeria?
Cocoa farming in Nigeria is one of the most profitable businesses for entrepreneurs looking to invest in agriculture in Nigeria. … According to the Cocoa Association of Nigeria (CAN), Nigeria ranks fourth behind Cote D’Ivoire, Ghana, and Indonesia.
Is chocolate popular in Nigeria?
The data indicated that major global confectioners, such as Mars and Mondelēz, make up the majority of the market share in West Africa, particularly in Nigeria. … Mondelēz, which contributed to 11.2% of Nigeria’s chocolate market in 2016, said the country is its most important market in West Africa.
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.
Who does Nigeria export oil to?
The country has a 4.16% share of an annual crude petroleum global export market worth $1.08 trillion. The most popular export destinations for Nigerian crude petroleum were India ($8.52 billion), the United States ($5.11 billion), Spain ($5 billion), South Africa ($3.82 billion), and the United Kingdom ($3.03 billion).