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Fg Resolves To Establish Cocoa Development Corporation - Agriculture - Nairaland

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Fg Resolves To Establish Cocoa Development Corporation by Tectono: 4:54am On Oct 29, 2014
FG RESOLVES TO ESTABLISH COCOA DEVELOPMENT CORPORATION
Owing to the fact that every country has a private organisation that caters for the interest of the farmers, the Federal Government has announced its resolve to establish a Cocoa Development Corporation of Nigeria. This has boosted the cocoa value chain of the Agricultural Transformation Agenda (ATA)

Tectono Business Review gathered that the Minister of Agriculture and Rural Development, Dr. Adewumi Adesina made this development known at the National Cocoa Summit organised by stakeholders in the cocoa industry in Abuja. He also proposed a N100 billion Cocoa Sector Development Fund to boost the sector.

While responding to the demand by the Chairman of Nigeria Cocoa Processors Association of Nigeria, Mr. Dimeji Owofemi for urgent need to reposition the sector through setting up of an independent body as being practised in Ghana and Ivory Coast, Adesina restated his commitment to the farmers.

He said that the corporation would be private sector driven and public sector financed and that the Nigeria Cocoa Research Institute (NCRI) had unveiled eight new hybrid of cocoa, with ability to mature within two and half years rather than the usual five years harvest period. He said with the new yield, cocoa production grew from 250, 000 metric tons to 370, 000 metric tons per annum and to attain 600, 000 within the next two years.

Earlier, Minister of Trade and Development, Dr. Olusegun Aganga stressed the need to develop the cocoa value chain. He said Ivory Coast produced about five-times of the 300, 000 metric tons of what the nation was producing. He said despite the local production and global rate as fourth largest producer of the commodity, Nigeria lacked global attention.

Earlier, Owofemi lauded the NCRI for developing new breeds of the commodity. He said research played a vital role to repositioning the cocoa sector. He decried high cost of operation and strict competition against the commodity.
http://tectono..com/
Re: Fg Resolves To Establish Cocoa Development Corporation by caroline04: 10:58am On Oct 29, 2014
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Thanks[/b]

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