Commodities
Fire Outbreaks in Nigeria Cocoa Farmlands Could Cut 4% of Output
- As much as 12,000 tons potentially lost to fires in Abia State
- Low Nigerian production could pressure global prices further
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Fires have burnt down more than 30 hectares (74 acres) of cocoa farmlands in one of Nigeria’s key producing states in the southeast of the country, according to the Cocoa Farmers Association of Nigeria.
The destruction of the farmlands in Abia State could result in a “potential loss of between 11,000 tons to 12,000 tons of cocoa” in the mid-crop harvest, according to John Kalu, the zonal chairman of the umbrella body. This is about 4% of the projected output of 280,000 tons to 300,000 tons of the commodity this year.