NIGERIA:COCOA'S FARM GATE PRICE NOW N500,000 A TONNE, BY ABDULMUMINI ADEKU.

NIGERIA:COCOA'S FARM GATE PRICE NOW N500,000 A TONNE,
BY ABDULMUMINI ADEKU.

SPREADING COCOA BEANS IN THE IVORY COAST

Cocoa specifically known as Theobroma cacao scientifically and widely grown in South Western parts of Nigeria  is at present sold at the rate of N500,000 a tonne.

News office desk of Paedia Express Multimedia Group in Lagos,Nigeria now hears that a tonne goes for at least 20 different bags of cocoa pods.

A cocoa pod is the case like parchment provided by nature to encase cocoa’s  seedlings and juice.

In a conversation with this reporter ,asource whose father used to own a cocoa farm in Western Nigeria lamented the level of dearth in human resources as far as farming of cocoa was concerned .

He recalled while reminiscing on the past that he and the rest members of his family used to engage in all sorts of agronomic practices for as much as three hectares of land while his father still maintained  a land for his farming but sadly the gains of all that which ranged from putting food on the table,payment of school fees,buying all sort of goodies for the family by his parents had since being lost due to the urge for white collar jobs and urbanisation among the youths of today.

In a related issue,Mr Oladunmade ,who is a consultant to a beverage firm in Ondo state of Nigeria had also told this reporter way back in 2013 about the problems the issue of capital flight played in the sales and marketing of Cocoa both in the local and global market .

This reporter had also spotted cocoa growing at the Sanmori streams off college road in Ifako Ijaiye area of Lagos,Nigeria thus suggesting that cocoa can also grow even in the city of Lagos,Nigeria under Standard Temperature and Pressure.[S.T.P.]

The price of cocoa beans on the London Mercantile exchange rose sharply after reports of continued unrest in côte d'ivoire

As reported lenta.ru the cost of cocoa has risen by 4.4% after it became known about failure of negotiations between rebels and the local armed forces.

The problem which arose in January of this year, because of the size of salaries and bonuses of soldiers, not solved until now. The conflict between the rebels and the command spread from the country's capital of Abidjan for the second largest city of bouaké, which is the center of trade of cocoa beans.

Naturally, the armed clashes, which have grown the original conflict, excited buyers of cocoa and confectioners, concerned about possible shortages, followed by rose and the plague the price of the product.