Nigerian 2015/16 Cocoa Output Seen Rising Up to 350,000 Tonnes –Institute

Nigeria is expected to boost cocoa output to up to 350,000 tonnes in the 2015/16 season, according to an official at the Cocoa Research Institute of Nigeria (CRIN), which advises the government.

In February, the head of the country's cocoa association, Sayina Riman, told Reuters output would be 260,000 tonnes, down from an initial forecast of 295,000 tonnes, after dry weather caused a poor harvest.

The official at the institute said farmers had since invested in fertilizers and pesticides, which explained the difference in the forecasts.

Output in the 2015/16 season would be in the range of 320,000 tonnes to 350,000 tonnes, the official said, asking not to be named.

In the 2014/15 season output was 280,000 tonnes.

Category: 
myfinancialintelligence.com