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Nigerian cocoa bean farmers hoarding supply to sell in December at higher prices

Cocoa Bean
Nigeria
Price Trend
Supply Yield / Stock Quantity
Nov 24, 2021
Written by
OO
Odunayo Omotosho
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The price of cocoa beans in mid-week 47 was at USD 3,043 per MT EXW and expected to be USD 3,050-3,070 EXW from week 49 due to the festive season and high demand by exporters to meet their target for the year. Therefore farmers in Ife, Ilesa, Ile-Oluji, and Owo are beginning to hoard cocoa beans with a plan to sell towards December (Wk 49 - 50) at higher prices before the festive season.
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