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Brown gold production: Nigeria plans to join the decent income differential mechanism in cocoa

13/04/2022
Categories: Raw materials

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In nigeria is considering adding to the list of African cocoa producers applying the Decent Income Differential (DRD). This system, in force since the 2020/2021 season in Côte d'Ivoire and Ghana, imposes a special premium of $400 on each tonne of beans sold in order to better remunerate planters.

 

Fuad Mohammed Abubakar, number one of the Cocoa Marketing Company (CMC), the export subsidiary of the Ghana Cocoa Council (Cocobod), says cocobod is expected to hold a meeting by next May with the Nigerian Ministry of Agriculture. According to the organization, the non-collection of the DRD would deprive producers of an envelope of 60 billion naira ($ 144 million) per year that can go to the improvement of their living conditions.

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