Cocoa Prices in Nigeria

Nigeria, known for its diverse agricultural landscape, continues to be a key player in the global cocoa market. Despite facing tough competition from other African nations, cocoa remains a cornerstone of Nigeria’s agricultural exports. In this blog post, we delve into the current cocoa prices, the versatility of cocoa-derived products, and the surprising health benefits associated with this beloved agricultural commodity.

Current Cocoa Prices in Nigeria:

Navigating the fluctuating cocoa market can be challenging, with prices varying significantly across states.a tonne of cocoa ranges from N1,150,000 to N1,300,000, depending on the state of purchase. Notably, states like Ondo and Cross River offer more competitive prices due to their abundant cocoa supply.

1. Idanre, Ondo State: N1,240,000 – N1,300,000 per tonne
2. Ore, Ondo State: N1,250,000 – N1,300,000 per tonne
3. Ife Central, Osun State: N1,150,000 – N1,200,000 per tonne
4. Akoko Edo, Edo State: N1,200,000 – N1,250,000 per tonne
5. Ikom, Cross River State: N1,220,000 – N1,250,000 per tonne
6. Abia State: N1,100,000 – N1,200,000 per tonne

Top Products Derived from Cocoa:

1. Animal Feed (from Cocoa Husk): Utilizing every part of the cocoa bean, the husk serves as valuable animal feed. By drying and processing the husk into small flakes, it becomes an excellent nutritional supplement for livestock.
2. Soft Drinks and Alcohols: Fresh cocoa pulp juice finds its way into local soft drinks, while the fermentation of cocoa juice with yeast produces top-rated alcoholic beverages like brandy. This showcases the versatility of cocoa in local industries.
3. Potash (from Cocoa Pod Husk): Cocoa pod husk ash is employed in manufacturing soft soap and serves as a fertilizer for various crops. The preparation involves drying fresh husks for one to two weeks before incineration.
4. Cocoa Butter: A significant product, cocoa butter, is widely used in chocolate production and cosmetics, including moisturizing creams and soaps. Its skin-enhancing properties make it a popular choice among skin therapists.
5. Jam and Marmalade: Extracting pectin from cocoa sweating contributes to the production of jam and marmalade. The process involves precipitation with alcohol, followed by distillation and alcohol recycling for further extractions.

Health Benefits of Cocoa Products:

1. Curbs Heart Disease: Research suggests that cocoa consumption may lower the risk of heart disease and death by improving blood pressure and vessel function.
2. Manages High Blood Pressure: Regular consumption of dark chocolate or other cocoa products may help lower high blood pressure readings, offering potential relief to individuals with hypertension.
3. Combats Chronic Fatigue Syndrome: Cocoa’s daily intake has shown promise in reducing fatigue, anxiety, and depression, while enhancing overall functionality in individuals with chronic fatigue syndrome.

Side Effects of Cocoa Products:

While cocoa and its products are generally safe for consumption, excessive intake may lead to caffeine-related side effects, including nervousness, increased urination, insomnia, and, in rare cases, a fast heartbeat. Allergic skin reactions, constipation, and migraine headaches are also potential side effects.

Conclusion:

Nigeria’s cocoa industry continues to thrive, driven by its resilience and adaptability. From fluctuating market prices to the diverse range of products and unexpected health benefits, cocoa remains a vital contributor to the nation’s agricultural and economic landscape.