The farmgate price was 535,000 naira ($3,490) a metric ton, up from about 460,000 naira a month ago and an all-time high, according to Neji Abang Neji, secretary general of the association. Nigeria ranks behind Ivory Coast, Ghana and Indonesia in cocoa production, according to the International Cocoa Organization.
Cocoa-bean exports from Nigeria in the first 11 months of last year rose 12 percent to 171,184 tons compared with the same period a year earlier, according to figures from the Federal Produce Inspection Service, the Lagos-based government agency that inspects exports of cocoa beans.
Port arrivals of cocoa beans rose 7 percent from October to Feb. 25, compared to the same period a year earlier, Anant Patil, a business manager at Olam Nigeria Ltd., said from Lagos. For the latest updates PRESS CTR + D or visit Stock Market news Today
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