Nigeria has exported cocoa beans and derivatives valued at N121.9 billion ($259.5 million) to The Netherlands in the last two years. The exports represent 40.18 per cent of the total export of N303.4 billion ($646.2 million) between 2019 and 2021. In 2019, total export to various countries was valued at $311.38 million, while $334.79 million worth of beans and its derivatives were exported in 2020.
It was learnt that the exporters had shifted to Europe as demand for beans had been sluggish in Asia, which priced Nigerian cocoa at differentials of between 160 pounds and 200 pounds ($279.56) less than the market price due to weak international demand.
But it was learnt that exporters were still struggling to get shipments of the beans out of the country due to slow and poor documentation, packaging, gridlock at the port roads and delay at the export terminals…
More details through:
News Archive from before July 2018