The price of cocoa has jumped by approximately 18% year-to-date as Ivory Coast and Ghana, which account for an estimated 60% of global production, harmonize their sale strategies. Cocoa is Nigeria’s fourth largest source of foreign exchange. An increase in the price of the commodity will impact positively on Nigerian farmers and export revenues.
The attached slides summarize the events that took place in the domestic and global commodity markets this week.
Enjoy your read!