Business

Apapa Gridlock Traps 30,000 Tonnes Of Cocoa

 

About 30,000 metric tonnes of cocoa have been trapped at the Apapa gridlock on its way to the Apapa port, according to exporters.

The Cocoa Exporters Association of Nigeria on Monday said that 1,760 tons of Cocoa butter and cake are held up in the traffic which has been a source of concern to motorists, residents as well as importers and exporters.

Traders said, as a result of the development, farm-gate cocoa prices have dropped, while purchases have slowed.

Nigeria is currently ranked fifth alongside Cameroon, among the world’s biggest cocoa producers, with the international cocoa organisation estimating its 2017 to 2018 output at 240,000 metric tonnes.

The Apapa is one of Africa’s biggest port city but the current road repairs hinder access to ships for export.

oluchi

Disqus Comments Loading...
Share
Published by
oluchi
Tags: ApapaCocoa

Recent Posts

Soldiers’ Death: Wanted Delta Monarch Turns Self In

Before he turned himself in to the police, the monarch spoke to journalists, insisting on…

41 mins ago

45 Killed As Bus Plunges Off South Africa Bridge

The vehicle had been heading from neighbouring Botswana to Moria in the north of the…

56 mins ago

CBN Pegs Minimum Capital Base For Banks At ₦500bn 

The apex bank said the new minimum capital base for commercial banks with national authorisation…

2 hours ago

Soldiers’ Killing Oil-Related, DSS Should Lead Probe — Urhobo Leader

The Urhobo leader called for an independent probe into the circumstances that led to the…

2 hours ago

Tyrants Won’t Become Leaders In Parliamentary Democracy — Utomi 

The thought leader noted that thriving democracies in the world practice parliamentary democracy.

3 hours ago

Tinubu Appoints Abdullahi Bello As CCB Chairman 

By the presidential pronouncement, Abdullahi Bello replaces Aliyu Kankia, who has been the acting Chairman…

4 hours ago