Great opportunities exist in the Nigerian cocoa sector but persistent low productivity, absence of institutional control and administrative inefficiencies in the sector are resulting in low profitability for farmers. The Foundation for Partnership Initiatives in the Niger Delta (PIND Foundation) will be organizing a Cocoa Stakeholders’ Roundtable in Akure, Ondo State on May 23, 2019 to engage stakeholders on how to work together to attract new investments into the cocoa sector and increase profitability.
PIND Foundation’s Market Development Manager, Precious Agbunno, stated that “the Cocoa Stakeholders’ Roundtable will provide a platform for stakeholders to share their experience and dialogue and it will kick start discussions and activities towards addressing certification and regulation in the sector by examining the role of public institutions with the responsibility of ensuring quality and standardization in the sector”.
A major feature at the cocoa roundtable will be the presentation of findings from the PIND Foundation’s value chain study of the Niger Delta cocoa industry. Among others, the value chain study revealed low productivity and profitability of the cocoa business arising from poor yield and poor quality cocoa beans.
As a result of poor quality, Nigerian cocoa beans are being sold at a discount price in the international market, resulting in low profitability for actors in the value chain especially the farmers.
One of the expected major outcomes from the roundtable will be the development of a communique which articulated some of the actions to be taken forwards.
