A fire outbreak in Abia State has destroyed up to 30 hectares of farmland, impacting cocoa production and potentially causing a 4% drop in supply.
This l0ss amounts to about 11,000 tons of cocoa pods during the mid-crop harvest season, which typically ranges between 280,000 to 300,000 tons.
The Cocoa Farmers Association of Nigeria attributes the fires to farmers clearing land for the upcoming planting season, exacerbated by strong winds from the dry harmattan weather.
This incident is expected to w0rsen the global supply shortfall, contributing to the doubling of international cocoa prices over the past year.
Nigeria, a significant cocoa exporter, earned around N42.24 billion in the third quarter of 2023 and around N157.77 billion in the first nine months of the same year from cocoa exports.
Peoplesmind
