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Nigeria: A state project to improve palm oil production leads to the destruction of cocoa farms in what should be a forest reserve

Cocoa Bean
Published Jan 13, 2024

Tridge summary

Nigeria is a leading player in the global cocoa industry and is the fourth-largest producer of cocoa in the world. The state of Ondo is the largest cocoa producer in Nigeria, responsible for over 40% of all cocoa exports in the country, with a production volume of 240,000 metric tonnes per annum. While Nigeria earns a significant amount from cocoa exports and is the highest-earning agricultural export in the country, it spends a lot more on importing palm oil to meet local demands, as it has fallen from the top palm oil producer in the world to a net importer.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This is the second part of this report. Read the first part here. Abayomi Isinleye, chairman of the farmers’ association at the Oluwa forest reserve, put the losses incurred from the destruction of the cocoa plantations at N500 million or more. “Just one cocoa tree is generational wealth. You keep profiting from it until you age and hand it to your children. On a plot of land, you can harvest two thousand cocoa seeds annually. Right now, SAO Agro-Allied Services Limited has graded up to 2,000 hectares of cocoa farms,” Mr Isinleye told TheCable. “In a year, one can make up to N10 million from a cocoa farm, sometimes N20 million, depending on how big your farm is. At the moment, cocoa is N3,800 per kilo. A ton is N3.8 million. Some harvest six, eight, or ten tons annually. Aside from that, we have other produce on the farm, like yam, kolanut, cassava, and vegetables that we sell to people. So, when a farm is destroyed, the loss is unquantifiable. It is the major source of wealth for ...
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