Unregulated Cocoa Sub-Sector Not In Smallholder Farmers’ Interest —CFAN
COCOA farmers in Nigeria have lamented the unregulated cocoa economy in the country, stating that it is depriving the Nigeria Smallholder cocoa farmers from not joining Ivory Coast and Ghana in the collection of $400 per tonne known as Living Income Deferential (LID) paid to cocoa farmers aside the cocoa floor price in the cocoa producing countries by the International Cocoa Buyers.
National President of the Cocoa Farmers Association of Nigeria (CFAN), Adeola Adegoke, said because of the Nigerian unregulated cocoa economy, there is no measure put in place to be able to collect this $400 aside the floor price that we sell our beans
“Why the farmers are bringing the issue out is because of the existing structure of supporting cocoa farmers with $400 per tonne aside the cocoa floor price. It is an existing structure to support smallholder farmers in Ghana, in Ivory Coast and the countries that are leading in world cocoa production.
“Because of our unregulated cocoa economy in Nigeria there is no measure put in place to be able to collect this $400 aside the floor price that we sell our beans. This $400 is an addition that is meant to support the livelihood of the cocoa farmers in all cocoa producing nations.
“In Ghana and Ivory Coast today, they are collecting it. If today Nigeria is been denied $400 per tonne, that is multiply by 265,000 metric tonnes that is running into about N55bilion