Nigeria is losing over $2b yearly due to under explored value chain opportunities within the global Cocoa industry, caused by a lack of the cocoa culture and full appreciation of the value propositions.
It was learnt that the built up processing capacity in the country is about 200,000 metric tonnes (MT) to convert cocoa to butter, liquor and cake/powder, but the country is operating at about 30 per cent capacity because the cocoa industry and the domestic market are not properly structured in the manner that will attract the right investments to develop the market to compete with western market offerings.
These were part of the communiqué of the International Cocoa and Chocolate Forum (ICCF 2024 – Nigeria), held in both Abuja and Lagos, as a follow up on the discussion of ICCF 2023 – UK edition of October 2023, with the theme: The new EU policy, its effect on cocoa producing regions and the way forward…
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