NIGERIA – The much awaited cocoa corporation to become operational this year is expected to facilitate the increase of the production from the current 350,000 metric tons to the targeted 500,000 metric tons by 2015.
UGANDA – The Government has established an independent coffee research centre aimed at boosting the crop’s production, uplifting farmers’ incomes and improving the country’s economic progress through increased export revenue.
NIGERIA – Tea consumption in Nigeria has been growing by five percent annually since 2008 creating a bigger market not yet fully tapped by local investors and steady exploitation of the opportunities by importers.
KENYA – Kenya Tea Development Agency (KTDA) announced Wednesday that more than 600,000 small-scale holders affiliated to the marketing agency would be paid a total bonus of Sh19.8 billion, a 44.3 per cent drop on the Sh35.6 billion paid last year.
NIGERIA – Following disappointing revenue posted by Cadbury Nigeria Plc and other fast moving consumer goods companies, analysts at Renaissance Capital has lowered their Cadbury Nigeria Plc FY14 headline earnings per share (HEPS) forecast from N3.21 to N1.75 (-45 per cent).
NIGERIA – Cocoa shipments from Nigeria’s second-largest grower Cross River halted this week after merchants and the state government disagreed over the payment of an export levy, the Cocoa Association of Nigeria (CAN) said.
NIGERIA – Cadbury Nigeria Plc’s flagship brand, Bournvita may be losing its market share to Nestle Nigeria’s Milo, following the uninspiring performance recorded by the former in its half year results for the period ended June 30, 2014, a report has stated.
CAMEROON – Robusta coffee exports from Cameroon rose to 14,094 tonnes by end-July since the start of the 2013/14 season on December 1, versus 12,495 tonnes for the same period of the previous season, data from the National Cocoa and Coffee Board (NCCB) showed.
KENYA – Increased coffee consumption in East Africa is providing a respite for farmers from erratic prices in the global market.
KENYA – The price of a 50 kilogramme bag coffee increased to $202 (Sh17,748) at the Nairobi Coffee Exchange (NCE) from $152 (Sh13, 224) during the last auction held in July.