Friday, March 2, 2018 /10:55 AM /FDC
The price of cocoa has jumped 3.8% this week on expectations of lower production from Ivory Coast, the world’s largest producer. Cocoa is Nigeria’s fourth largest source of foreign exchange.
The IMF has reiterated that the level of Nigeria’s economic growth (0.83%) is insufficient to reduce poverty and unemployment. The Fund urged the government to continue to implement pro-market reform policies to consolidate the economy’s recovery.
The FGN is likely to announce a sharp increase in the national minimum wage in September. This should help alleviate the plight of the decline in disposable income for workers.
1. Nigeria’s Wheat Import is Estimated at $2bn
2. 5 Record Breaking Gemstones Even Billionaires Can''t Buy
3. Cocoa Prices Above $2000 per mt; Good for Exporters
4. Nigeria Currently Produces 990,000tons of Palm Oil
5. Nigeria is the Largest Importer of Sugar in Sub-Saharan Africa, With an Import Level of 1.56mmt
6. Nigeria is the Largest Producer of Peanuts in Sub-Saharan Africa, and 3rd in the World
7. First Week of February 2018 Saw a Meltdown in Commodity Market
8. Nigeria is World’s Largest Consumer and Producer of Cassava With an Annual Output of 57.13m Tonnes
9. Sugar Prices Down by 0.15% - FDC
10. World Avocado Production Currently Valued at $10bn
11. Oil Price Volatility Is a Feature of Commodity Markets