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Higher Price of Oil Has More Than Compensated for Any Cocoa Shortfalls

Proshare

Friday 15th September 2017 9.00AM/ FDC

A bumper cocoa crop in Ivory Coast has depressed the world price of cocoa ($1,990.00/mt). Nigerian farmers and export revenues will be negatively impacted.

The good news is that Nigeria's total exports increased by 37.3% in Q2'2017 to $8.3bn (annualised $33.2bn). The higher price of oil, now trading above $55pb, has more than compensated for any cocoa shortfalls.


The attached bulletin summarises these and other events that took place in the domestic and global commodity markets this week.


























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