October 10, 2019 / 10:47 AM / 10 days ago

Nigeria plans to team up with Cameroon to agree cocoa premium -producer body

Factory officials take samples of cocoa beans at a cocoa processing factory in Ile-Oluji village in Ondo state, southwest Nigeria March 29, 2016. REUTERS/Akintunde Akinleye

LAGOS (Reuters) - Nigeria aims to team up with Cameroon to agree a premium for its cocoa with buyers, the vice president of the World Cocoa Producers Organisation told Reuters, after the world’s top growers Ivory Coast and Ghana set a price floor for the crop.

The plan suggested by Nigeria, the world’s fourth-largest cocoa producer, is part of a trend which has seen growers in West Africa and Latin America seek to influence prices in the global market.

Reporting by Chijioke Ohuocha; Editing by Alexis Akwagyiram; Editing by David Goodman

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