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Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Gerrard59(m): 8:01am On Dec 12, 2023 |
From thieves stealing pods to traders rigging scales — high drama is unfolding in Nigeria and Cameroon’s cocoa markets — as everyone jostles for the massive profits on offer as prices of the chocolate ingredient have soared to their highest in over forty years. |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by insidelife22(m): 8:05am On Dec 12, 2023 |
I must return to Ile Ife forests for sure odds... 1 Like |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Gerrard59(m): 8:07am On Dec 12, 2023 |
“My landowner is asking for 450,000 naira per year on the 2-hectare farm for which I currently pay 200,000,” said Attangba Bonjo, who grows cocoa on leased land in Ikom in Nigeria’s southeast. “Cocoa farmgate prices have risen to about 4 million naira from 2.7 million naira per ton in the last two months, which I believe the land owners want to have a taste of.” https://www.bloomberg.com/news/articles/2023-12-06/cocoa-rally-fuels-bean-theft-soaring-rents-in-cameroon-nigeria
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Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Gerrard59(m): 8:14am On Dec 12, 2023 |
cc: nlfmod Cocoa farmers must be making a killing to the extent the beans are pilfered. Good a thing, unlike Ghana and Ivory Coast, there are no restrictions on the prices Nigerian farmers wish to sell. That is the beauty of capitalism: the free market. Ghana, as I write, signed a deal with the IMF to trade her future earnings from cocoa for an immediate loan. Terrible decision. I was stunned! The Ghanaian economy must be so terrible for such to have occurred when the president and his finance minister studied at Oxford and Columbia universities, respectively (I wonder what they learnt while there assuming they actually attended classes and paid attention). https://www.bloomberg.com/news/articles/2023-11-21/ghana-to-sign-costliest-loan-ever-for-cocoa-as-debt-crisis-bites 2 Likes 1 Share |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by RepoMan007: 8:31am On Dec 12, 2023 |
Thanks to aging trees in Nigeria, cocoa yield has dropped and that means higher prices whenever demand becomes strong. I am sure if the north had the ability grow cocoa as well as the south, they would have priotized the replenishing of the younger more productive trees and processing of cocoa into chocolates. That's a $150b global industry we are comfortably ignoring yet wishing oil will sell higher forever. Nigeria is largely an agrarian country that should be having six ministries of agric. One for each region. This should help reduce the politics of interregional exploitation that's crippling many things in Nigeria. The least I expect from Tinubu is this if he is serious about improving the system. 4 Likes 1 Share |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by RepoMan007: 8:37am On Dec 12, 2023 |
Gerrard59:We are cursed with leadership problems. How can you sign away something as valuable as cocoa? Something that can be processed to generate thousands of well-paying jobs and profit for your economy? Code D'voire tried to into processing but there is room for improvement. I wonder what Ghana was thinking. 2 Likes |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Gerrard59(m): 9:41pm On Dec 12, 2023 |
RepoMan007: I explained it here: Gerrard59: 2 Likes 1 Share |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Corrections: 8:05am On Dec 13, 2023 |
Cool.. |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by RepoMan007: 3:51pm On Dec 15, 2023 |
Corrections:It is not cool in any way. |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by RepoMan007: 4:11pm On Dec 15, 2023 |
Gerrard59: I have agree with you on the aspect of being almost impossible to process to the taste of the west locally. They have big firms and what they call artisan cocoa users / hobbyists. The big firms there have high standards and reputation. |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by XAUBulls: 4:24pm On Dec 15, 2023 |
That's a very serious situation unfolding right before everyone. =>https://www.bloomberg.com/news/articles/2023-12-06/cocoa-rally-fuels-bean-theft-soaring-rents-in-cameroon-nigeria =>https://www.bloomberg.com/news/articles/2023-11-21/ghana-to-sign-costliest-loan-ever-for-cocoa-as-debt-crisis-bites |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Gerrard59(m): 5:52pm On Mar 23 |
A ton of cocoa is close to $10K per ton. If you see anyone dealing in cocoa, bill am! Due to weather disruptions, the Ghanaians and Ivorians are not producing enough, so Nigerians and Cameroonians are filling in the gap. The farmers will make money No wonder Tinubu did not institute a commodity pricing board. Good decision. 2 Likes |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Ajd19: 4:24pm On Apr 17 |
rsogbuyi:. |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Parizz: 2:44pm On May 11 |
Gerrard59:hi, am planning to learn a skill between mechanic and aluminium fabrication and i need your insight. Which should i go for? |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by Gerrard59(m): 6:11pm On May 11 |
Parizz: My Oga - tensazangetsu20 - knows much of this as he was once a mechanic and even repaired a Rolls Royce. One thing I would advise about mechanic is to learn how to repair German cars since their owners are wealthier aka, dem get money, pass those wey dey drive Japanese and Korean cars. Oga tensazangetsu20, what do you have to say about this, biko? |
Re: Robbers Steal Cocoa Beans As Cocoa Prices Balloon - Bloomberg by tensazangetsu20(m): 6:22pm On May 11 |
Gerrard59: Mechanic is better to be honest. It could even be used to migrate if we had proper trade schools in Nigeria but if you know the skill you could write trade school exams from other countries and find a job that will sponsor. I will go with Mechanic. 2 Likes |
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