National Economy
Wednesday, September 10, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Cocoa Harvest Drops By 4.4% To 296,000MT

by Chika Izuora
2 years ago
in Business, News
Reading Time: 1 min read
Cocoa
Share on FacebookShare on TwitterShare on Telegram

 

Nigeria’s cocoa harvest is forecast to fall by 4.4 per cent to 296,000 metric tons this year as ageing trees and a lack of access to adequate pesticides lowers yields, commodities exchange, AFEX said in a report.

Harvesting is under way in Nigeria, which is among the top five global cocoa exporters. Nigeria has for years been trying to ramp up production as part of plans to diversify the economy and reduce its reliance of oil but has struggled to attract new farmers.

Abuja-based AFEX said in its 2023 crop production report that many cocoa trees were reaching the end of their productive life cycle, leading to lower yields while the deadly fungal disease Black Pod had damaged some crops.

You May Like

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

The rainy season in the cocoa producing south west region started late this year, also impacting output, said AFEX, which provides access to markets and finance to farmers.

“Very few people are planting new cocoa trees. The dynamics need to shift from smallholder farming to large-scale commercial farming, and to do that long-term investment is required,” AFEX CEO Akinyinka Akintunde said before releasing the report.

One Nigeria-based cocoa trader estimated that output would be below 296,000 tons, also citing lower yields.

AFEX in its report said production of maize and paddy rice, a major Nigerian staple, was expected to recover from last year when floods hit some farms in the main grain producing region in the north of the country.

Maize production is forecast to increase 6.9 per cent to 11.6 million tons in 2023 while rice output was projected to rise 3.6 per cent increase to 8.3 million tons, said AFEX.

ShareTweetShare
Previous Post

Seplat On Verge Of Concluding $1.3bn ExxonMobil Asset Purchase

Next Post

Stakeholders To Resolve Insurance, Pension Consumers’ Pain-points

ANOTHER GOOD READ

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award
Business

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award

1 hour ago
JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations
Business

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

20 hours ago
Business

Nigerian Firms Allocate 30% IT Budgets To Privacy Protection

20 hours ago
NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges
Business

NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

20 hours ago
Banks Slash Loans To Manufacturers By 26%, Lending Falls To N8trn
News

Nigerian Businesses Struggle As Loan Interest Rates Hit 36%

20 hours ago
Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses
Business

Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

20 hours ago
Next Post
Stakeholders To Resolve Insurance, Pension Consumers’ Pain-points

Stakeholders To Resolve Insurance, Pension Consumers' Pain-points

Most Recent

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award

FirstBank Leads War On Fraud, Wins Global Cybersecurity Award

September 10, 2025
JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

JAMB Uncovers 4,251 Fingerprint Frauds, 192 AI Impersonations

September 9, 2025

Nigerian Firms Allocate 30% IT Budgets To Privacy Protection

September 9, 2025
NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

NABTEB Reviews 26 Trade Syllabi To Upgrade Technical Colleges

September 9, 2025
Banks Slash Loans To Manufacturers By 26%, Lending Falls To N8trn

Nigerian Businesses Struggle As Loan Interest Rates Hit 36%

September 9, 2025
Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

Nigeria Publishes New Tax Reform Laws, Exempts Small Businesses

September 9, 2025
Pension Operators Sensitise Young Professionals On Cancer Awareness

Be Fair, N’Assembly To Pension Bureau

September 9, 2025
Nigerian Firms Disburse N927.6bn Dividends In H1 2025

NGX Opens Week On Bullish Note, Gains N263bn

September 9, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy