Nigeria Inspired by Ghana: Ivory Coast Cocoa Premium Deal

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Nigeria Inspired by Ghana: Ivory Coast Cocoa Premium Deal
Nigeria Inspired by Ghana: Ivory Coast Cocoa Premium Deal

Nigeria and Cameroon have become the last African country to look for ways to negotiate joint bargaining with cocoa buyers for a better premium.

The plan, proposed by Nigeria, the world’s fourth-largest cocoa producer, is part of farmers ‘efforts to cope with a perceived imbalance between farmers’ income and the money earned by major commodity investors.

Côte d’Ivoire and Ghana, which account for about two-thirds of global production, applied a fixed “livelihood income gap 400 of $ 400 per ton to all cocoa contracts sold by both countries in the 2020/21 season.

He said Nigerian officials also met with Dutch and British officials to increase cocoa exports to Europe, rather than selling beans through third-party buyers in Asia.

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