Post by Trade facilitator on Mar 11, 2013 9:54:40 GMT 1
THE profile of Nigeria’s cocoa export business sustained its rising trend last year, as the nation earned $900 million (N142 billion), against $882.9 million realised in the previous year, from the commodity’s trade in the global market.
Minister of Trade and Investment, Olusegun Aganga gave the export figures of cocoa during a one-day national workshop on capacity building in Abuja, at the weekend.
The minister said beside the fact that cocoa was the second largest foreign exchange earner after crude oil, the industry generates over two million jobs directly and indirectly along its value chain.
He noted that as the market for cocoa increases at an average of three per cent a year while the nation’s export of the commodity has equally been growing at an average of 40 per cent yearly and a cumulative of 280 per cent which represents $215m in 2006 to $822.8m in 2010.
Aganga said given the fact that the local consumption of cocoa is barely three per cent, while the bulk of what is produced is exported, it is imperative for the country not only to increase its yield but most importantly ensure its acceptance in the international market by total compliance to the international standard, by minimising the harmful effect of pesticide residues in the crop, which is far becoming a health issue around the globe.
The Minister, who was represented by the Director, Industrial Development, Olakunle Sogbola, reiterated that beside encouraging Nigerians to increase their consumption of the product, effort is geared towards adding value to export drive in order to reduce the export of raw cocoa and ensure stable and improved income for farmers.
His words: “As a major producer, our primary goal is to secure a sustainable market for our cocoa and cocoa products. To achieve this desire, the quality of our cocoa and cocoa products is of paramount importance. Along this is our effort to protect food safety and the threats of pesticides and contaminants to human health.”
He added that concerns had been raised on safety of cocoa and its products consumed especially in developed countries with regards to the use of agro-chemicals in the production, storage and processing of cocoa. This he said informed the need for all stakeholders in the sector to ensure that cocoa produced in Nigeria is safe for consumption anywhere in the world.
The executive director of International Cocoa Organization (ICCO) Jean-Marc Anga said that users of cocoa products have continually raised issues relating to quality, traceability and integrity of the beans along the supply chain.
Other issues raised, he said, include food safety concern, environmental concerns and social ethics. The social and economic welfare of the cocoa farmers and in general, the sustainability of cocoa production.
These concerns, he said, brought about a World Cocoa Conference in Abidjan, Cote d’Ivoire organized by the ICCO in 2012. The outcome of the conference tagged Global Cocoa Agenda and Abidjan Cocoa Declaration has been ratified and signed by 31 major stakeholders in the cocoa sector, while Nigeria, which is the world’s fourth largest producer and exporter, is yet to sign the documents.
Source: www.ngrguardiannews.com/index.php?option=com_content&view=article&id=115800:nigerias-cocoa-export-business-hits-900m&catid=31:business&Itemid=562
Minister of Trade and Investment, Olusegun Aganga gave the export figures of cocoa during a one-day national workshop on capacity building in Abuja, at the weekend.
The minister said beside the fact that cocoa was the second largest foreign exchange earner after crude oil, the industry generates over two million jobs directly and indirectly along its value chain.
He noted that as the market for cocoa increases at an average of three per cent a year while the nation’s export of the commodity has equally been growing at an average of 40 per cent yearly and a cumulative of 280 per cent which represents $215m in 2006 to $822.8m in 2010.
Aganga said given the fact that the local consumption of cocoa is barely three per cent, while the bulk of what is produced is exported, it is imperative for the country not only to increase its yield but most importantly ensure its acceptance in the international market by total compliance to the international standard, by minimising the harmful effect of pesticide residues in the crop, which is far becoming a health issue around the globe.
The Minister, who was represented by the Director, Industrial Development, Olakunle Sogbola, reiterated that beside encouraging Nigerians to increase their consumption of the product, effort is geared towards adding value to export drive in order to reduce the export of raw cocoa and ensure stable and improved income for farmers.
His words: “As a major producer, our primary goal is to secure a sustainable market for our cocoa and cocoa products. To achieve this desire, the quality of our cocoa and cocoa products is of paramount importance. Along this is our effort to protect food safety and the threats of pesticides and contaminants to human health.”
He added that concerns had been raised on safety of cocoa and its products consumed especially in developed countries with regards to the use of agro-chemicals in the production, storage and processing of cocoa. This he said informed the need for all stakeholders in the sector to ensure that cocoa produced in Nigeria is safe for consumption anywhere in the world.
The executive director of International Cocoa Organization (ICCO) Jean-Marc Anga said that users of cocoa products have continually raised issues relating to quality, traceability and integrity of the beans along the supply chain.
Other issues raised, he said, include food safety concern, environmental concerns and social ethics. The social and economic welfare of the cocoa farmers and in general, the sustainability of cocoa production.
These concerns, he said, brought about a World Cocoa Conference in Abidjan, Cote d’Ivoire organized by the ICCO in 2012. The outcome of the conference tagged Global Cocoa Agenda and Abidjan Cocoa Declaration has been ratified and signed by 31 major stakeholders in the cocoa sector, while Nigeria, which is the world’s fourth largest producer and exporter, is yet to sign the documents.
Source: www.ngrguardiannews.com/index.php?option=com_content&view=article&id=115800:nigerias-cocoa-export-business-hits-900m&catid=31:business&Itemid=562
