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Cocoa Crisis in Nigeria: Merchants Battle Cocoa Shortage in a Race for Survival

Cocoa Crisis Unleashes Fierce Rivalry: Nigeria’s Looming Chocolate Dilemma

by BurrowBoss October 18, 2023, 12:31 am 1.2k Views

Shortage of Cocoa in Nigeria Sparks Competition Among Merchants, Exporters -October 16, 2023 at 02:56 pm EDT

Cocoa Shortage Nigeria

Cocoa Crisis in Nigeria: Merchants Battle Cocoa Shortage in a Race for Survival

Cocoa Shortage Nigeria fuels fierce competition among merchants and exporters, impacting the industry's future.

“Cocoa Crisis in Nigeria: A Battle for Survival”

In a new twist to the ongoing cocoa crisis in Nigeria, we find ourselves at the heart of a situation that is threatening the livelihoods of many. The shortage of cocoa, largely attributed to persistent rainfall and the dreaded black pod disease, has ignited fierce competition among merchants and exporters in the country. As we delve deeper into this crisis, we uncover a web of challenges that have engulfed the cocoa industry.

Muftau Abolarinwa, the President of the Cocoa Association of Nigeria, paints a grim picture. He reveals that the majority of farmers are experiencing a severe cocoa shortage. The relentless rainfall and the menacing black pod disease have left many farms barren. The black pod disease, which thrives in wet conditions when sunshine is a rare sight, can wreak havoc on cocoa farms, causing damage of up to 40% to the annual cocoa yield. This is a cause for concern, as cocoa is a vital economic resource for Nigeria.

One of the major factors contributing to this crisis is the exorbitant cost of the chemicals required to combat the black pod disease. These essential chemicals have become increasingly unaffordable for the average cocoa farmer. The currency depreciation of the naira has driven up the costs of agricultural inputs, further straining the already fragile situation. Isaac Ashaolu, a chemical dealer in Ibadan, reports that the price of a 50-gram sachet of Ridomil, a crucial weapon against the black pod disease, has skyrocketed from NGN400 to NGN850 within a year.

The economic landscape has undergone significant changes with the removal of the petrol subsidy in May and the Central Bank's decision to allow the naira to float freely against the U.S. dollar and other global currencies in June. These moves have resulted in a sharp depreciation of the naira by over 40%, leading to rising prices across the board, affecting not only the cocoa industry but also goods, food, chemicals, medicine, and services.

However, the gravity of the situation is underscored by the fact that accurate predictions for cocoa production have become nearly impossible. Mr. Abolarinwa highlights the unpredictability of the weather as a key factor. Until the rains cease, it remains uncertain when the cocoa shortage will improve. This uncertainty adds a layer of complexity to the already challenging circumstances.

Across the five major cocoa-producing states in the southwest region, cocoa merchants and exporters are struggling to secure an adequate supply of cocoa. Low harvests and a shortage of cocoa beans have triggered intense competition for this precious commodity. Biodun Osho, a trader, emphasizes the scarcity of cocoa and how it's affecting those in the business.

In the southeast region, particularly in Cross River state, the situation isn't any better. Sayina Riman, a former president of the Cocoa Association of Nigeria, expresses concern about the poor main cocoa harvest. Despite high hopes for a bumper main crop season after a disappointing midcrop season, farmers continue to grapple with the reality that their yields fall short of expectations.

The story deepens with a revelation from cocoa merchant Sunday Taiwo, who highlights a different challenge. In Cross River state, excessive rain patterns and a lack of sunshine have led to the growth of mold on cocoa beans, making them unsuitable for export. As of today, he has only managed to purchase 30 tons of cocoa, a far cry from his target of 3,000 tons for the 2023-24 season in Cross River state.

The cocoa crisis in Nigeria is taking on different dimensions, and it is imperative that stakeholders come together to address these challenges. The survival of the cocoa industry and the livelihoods of countless farmers are at stake. As we navigate this complex crisis, there's a pressing need for innovative solutions and support to revitalize the cocoa sector in Nigeria.

In the face of this adversity, we at Nigeria NewsBurrow Network urge you to join the conversation. Share your thoughts, insights, and solutions in the comments section. Let's work together to find a way forward for Nigeria's cocoa industry.

Cocoa Crisis in Nigeria: Merchants Battle Cocoa Shortage in a Race for Survival

In the heart of Nigeria, where lush cocoa farms once thrived, a challenging landscape is now unfolding. The shortage of cocoa has set the stage for fierce competition among merchants and exporters in the country. The dwindling cocoa supply can be attributed to the unyielding rains and the relentless black pod disease, which have plagued the cocoa farms. The farmers are grappling with the increasing cost of the necessary chemicals, essential to combat this disease, rendering them too expensive for many to afford.

The situation has further intensified due to the depreciation of the national currency, the naira. Higher input costs, driven by the currency's devaluation, are adding to the struggles of cocoa farmers. As a result, products like Ridomil, crucial for countering the black pod disease, have seen a significant price increase. This stark shift in the cocoa landscape has not only left farmers disheartened but has also raised concerns about the impact of these challenges on the country's cocoa industry.

With the uncertainty surrounding cocoa production in Nigeria, our aim is to offer you valuable solutions that align with the needs of the cocoa sector. Explore a range of cocoa-related products that not only cater to your requirements but also assist in managing the challenges faced by farmers and merchants. As you continue reading, you will find a selection of affiliate products that can help address the unique concerns posed by this cocoa shortage, making it easier for you to make informed decisions and support this vital industry. Join us in navigating these challenges and championing the future of cocoa farming in Nigeria.