{"id":110138,"date":"2024-02-11T21:24:00","date_gmt":"2024-02-11T20:24:00","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge"},"modified":"2024-02-12T00:10:57","modified_gmt":"2024-02-11T23:10:57","slug":"fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge","title":{"rendered":"Fire destroys 30 hectares of cocoa farmlands in Abia amid price surge"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>A fire outbreak has razed down up to 30 hectares of farmlands in Abia State, according to Cocoa Farmers Association of Nigeria, CFAN, Bloomberg reports.<\/p>\n

The fire outbreak amid a cocoa price surge could result in a 4 per cent drop in supply and a loss of about 11,000 tons of the chocolate ingredient pod during the mid-crop harvest season.<\/p>\n

In total, the mid-crop harvest ranges between 280,000 tons to 300,000 tons.<\/p>\n

The zonal Chairman of CFAN, John Kalu, said fires in Abia State were caused by farmers setting lands ablaze as a quicker and more cost-effective method of clearing land in preparation for the upcoming planting season.<\/p>\n

He noted that strong winds from the prevailing dry harmattan weather have exacerbated the situation.<\/p>\n

Accordingly, the incident will lead to a potential drop in output, which will exacerbate the global supply shortfall, exerting pressure on the international prices of the commodity, which have doubled over the past year, reaching a more than 40-year high.<\/p>\n

This surge comes as growing regions in West Africa, responsible for most of the global supply, face severe impacts from extreme weather conditions.<\/p>\n

According to the Q3 foreign trade report from the National Bureau of Statistics, Nigeria earned around N42.24 billion within the period.<\/p>\n

In the first nine months of 2023, Nigeria raked in around N157.77 billion from cocoa exports, mainly propelled by a hike in cocoa prices over the global shortfall in supply.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. A fire outbreak has razed down up to 30 hectares of farmlands in Abia State, according to Cocoa Farmers Association of Nigeria, CFAN, Bloomberg reports. The fire outbreak amid a cocoa price surge could result in a 4 per cent drop in supply and a loss of about 11,000 tons of the […]<\/p>\n","protected":false},"author":84,"featured_media":110137,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,12701,245,254],"class_list":["post-110138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-cocoa","tag-fire","tag-nigeria"],"yoast_head":"\nFire destroys 30 hectares of cocoa farmlands in Abia amid price surge - Nigeria<\/title>\n<meta name=\"description\" content=\"A fire outbreak has razed down up to 30 hectares of farmlands in Abia State, according to Cocoa Farmers Association of N ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fire destroys 30 hectares of cocoa farmlands in Abia amid price surge\" \/>\n<meta property=\"og:description\" content=\"A fire outbreak has razed down up to 30 hectares of farmlands in Abia State, according to Cocoa Farmers Association of N ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-11T20:24:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-11T23:10:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/02\/sm_1707676273.262603.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fire destroys 30 hectares of cocoa farmlands in Abia amid price surge\",\"datePublished\":\"2024-02-11T20:24:00+00:00\",\"dateModified\":\"2024-02-11T23:10:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge\"},\"wordCount\":254,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/02\/sm_1707676273.262603.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Cocoa\",\"Fire\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/fire-destroys-30-hectares-of-cocoa-farmlands-in-abia-amid-price-surge\",\"name\":\"Fire destroys 30 hectares of cocoa farmlands in Abia amid price surge - 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