Russia begins importing cocoa beans from Nigeria amid growing bilateral trade

Published 2024년 8월 28일

Tridge summary

Russia is set to begin importing cocoa beans from Nigeria starting in September or October of this year, marking a new milestone in the strengthening of economic relations between the two countries. This move is part of Russia's strategy to diversify its cocoa import sources, reducing dependence on countries that are considered 'hostile,' and comes after leading Russian chocolate manufacturers approved the quality of Nigerian beans. Nigeria, the third largest cocoa producer in Africa and the fourth largest globally, produces cocoa on millions of hectares through around 350,000 smallholder farmers. The bilateral trade between Russia and Nigeria has seen significant growth, reaching US$600 million in 2022, and is expected to grow further with the new cocoa import agreement.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Russia is about to embark on a new phase in its international trade by starting to import cocoa beans from Nigeria, marking a significant step in strengthening economic relations between the two nations. According to information released by the TASS news agency, the first shipments are expected to take place between September and October this year. Maksim Petrov, Moscow's trade representative in Nigeria, revealed that Russian trading companies, which already have an active trade with Nigeria exporting products such as frozen fish, alcohol, chocolate and meat, will be responsible for these new deliveries. Petrov emphasized that three export agencies, run by Russian businessmen, are already operating in Nigeria, facilitating the process. The decision to import cocoa from Nigeria comes after tests carried out by leading Russian chocolate manufacturers, who approved the quality of Nigerian beans. “We expect the first container shipments during the autumn cocoa harvest,” Petrov ...

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