Cameroon is now the world’s 5th largest producer of cocoa, displacing Nigeria to the 6th position. In the last 5 years, Cameroon’s output has grown by 21%, while Nigeria’s production plunged 36% to 245,000mt/yr. This divergence highlights the consequences of the oil curse and low investments in agriculture.
Meanwhile, the purchasing manufacturing index (PMI) is still in contraction territory at 49.8 (June 2018), with manufacturers saddled with high borrowing costs and falling consumer demand.
The attached document contains a snapshot of the global and domestic developments in the Commodities Market.
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