Cocoa Prices Fluctuate in Nigerian States
By Obafemi Oredein
Cocoa prices have experienced a mix of increases and decreases this week in various Nigerian states, according to industry officials and traders.
Cross River State
In Cross River, Nigeria's second-largest cocoa-producing state, graded cocoa that has been certified for export is currently trading at 2.35 million naira per ton ($2,992), as reported by Godwin Ukwu, an official of the Cocoa Association of Nigeria.
Ogun State
On the other hand, cocoa prices in the southwestern state of Ogun have witnessed a decline. It currently stands at 2 million naira per ton, down from 2.1 million naira per ton two weeks ago, according to trader Nojeem Olomide.
Edo State
In the midwestern state of Edo, cocoa prices have risen from 2.1 million naira per ton to 2.2 million naira per ton over the past two weeks, as reported by a trader.
Abia State
In Abia, located in Nigeria's southwest, cocoa is trading at 1.78 million naira per ton, a slight increase from 1.75 million naira per ton on August 2nd. This information was revealed by an official of the Cocoa Association of Nigeria.
These recent price fluctuations highlight the dynamic nature of the cocoa market in Nigeria.
All Rights Reserved © 2024
Post a comment