Nigeria And China Firms To Develope A Cocoa Hub
The southwest Nigeria’s state of Osun Thursday said it has partner a Chinese firm to transform the state into a Hub of Cocoa production.
State governor Rauf Aregbesola made the remarks in Ede town during a facility tour of the resuscitated Cocoa Production Industry in partnership with Chinese Company, Golden Monkey of China.
He said the state would soon become the Hub of Cocoa production in Nigeria with the revival of the moribund Osun Cocoa Production Industry.
The partnership between Osun Government and the Chinese Company to revive the Cocoa production after 15 years is based on 70 and 30% equity respectively.
Aregbesola said the present production capacity of 20,000 tonnes per day was a good development when compared to its 5,000 tonnes capacity per day in Y 2001, after which it was abandoned.
The Governor said the Cocoa industry would go a long way to support the state’s agriculture plan to develop Cocoa farming in the state.
He commended the partnering company for its commitment to the contractual agreement by hitting the ground running.
Earlier in her remarks, Song Lin, the Assistant General Manager of Skyrun Cocoa Production Industry, said the management had increased the production capacity of the industry 4X.
She said the company was presently producing Cocoa liquid and soon, the organization would be producing Cocoa powder and cake.
Have a terrific weekend.
Nigeria And China Firms To Develope A Cocoa Hub added by Paul Ebeling on
View all posts by Paul Ebeling →
Paul Ebeling
Latest posts by Paul Ebeling (see all)
- Asia: Gold, USD, Crude Oil, Stocks & Commodities - June 27, 2019
- Fed’s Dovish Pivot Drives Gold’s Rally - June 27, 2019
- Bitcoin (BTC) Surges, is this Another ‘Climax’ Run? - June 27, 2019