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Nigeria’s cocoa exports rose 5.4% in 2021, official data shows

ABUJA: Nigeria’s cocoa exports rose 5.4% in 2021 from a year earlier to 149,787 tonnes, official data showed on Monday, as economies opened up following coronavirus-induced restrictions and industrial activities increased across Europe.

Cocoa exports from the world’s number five grower stood at 142,092 tonnes in 2020, up 9.2% from 2019 and a 13.2% rise from 2018, data from the Federal Produce Inspection Service showed.

Exports slowed as local buyers struggled to resell beans stuck in their warehouses in 2020 while some shipments spilled over into 2021 due to port congestion in Lagos.

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Demand for beans as well as cocoa shipments have started to pick up in Europe and Asia as coronavirus restrictions ease, analysts say.
Cocoa exports, Nigeria’s second-biggest export after crude oil, rose 43.5% in the first eight months of 2021 from a year earlier.

Nigeria’s cocoa exports rose 5.4% in 2021, official data shows

Source: Brecorder

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