Cadbury Nigeria's Cocoa Export Revenue Halves to N5 Billion in 9 Months
Cadbury Nigeria Plc experienced a significant decline in cocoa export revenue to N5.05 billion in the first 9 months of the year, down from N10.66 billion the previous year. The drop was attributed to currency volatility, logistics challenges, and reduced overseas demand.
Despite this, the company saw a surge in domestic market revenue for cocoa products. Nigerian cocoa processors are facing challenges with reduced local bean output due to weather conditions and disease outbreaks.
The International Cocoa Organization forecasts a drop in cocoa production, impacting prices and export revenues.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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