Market Price As At 22nd June 2022
  • White Maize Grade-1 N165,000

COCOA

Cocoa Beans ncx

Cocoa bean is a fermented and dried seed of a tropical tree called Theobroma Cacao. Cocoa bean is the foremost export commodity in Nigeria contributing more than 30 per cent of foreign exchange earnings from non-oil exports and making a significant contribution to the internally generated revenue of major cocoa producing states. It is a source of income and employment for thousands of families in the cocoa growing belts of the country.

Cocoa bean production in Nigeria is concentrated along rainforest vegetation zone in Ondo, Cross River, Ekiti, Osun, Oyo, and Ogun States where the environmental conditions are most suitable. Other marginal producing states are Edo, Delta, Kogi, Kwara, Abia, Akwa Ibom and Taraba states.

In 2020/2021 season, Nigeria produced 340,163 tons of cocoa bean out of 4,809,000 tons global production and occupied 4th position after Cote d’Ivoire, Ghana, and Indonesia.

Local processing and utilization of cocoa is low in Nigeria as over 95 per cent of the raw bean is exported to European and Asian countries where it is processed into powder, liquor, butter, candies and chocolate. The nutritional benefits of chocolate and cocoa powder as good sources of protein, fat, caffeine, theobromine, vitamin B2, iron and zinc are responsible for the high demand of cocoa bean in the international market.