Nigeria Cocoa Prices Fall 28% in 2 Months on Slowing Demand
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Cocoa prices received by farmers in Nigeria, the world’s fourth-largest producer, fell by as much as 28 percent from a record high two months ago on declining demand, according to Neji Abang Neji, secretary general of the Cocoa Association of Nigeria.
Prices have fallen because there is low demand for the so-called light-crop beans, which the farmers are harvesting currently, he said.