(Ecofin Agency) - In Nigeria, the late rains observed during October and November will benefit the 2015/2016 cocoa season.

Indeed, the country is now looking forward to a production of 295,000 tons (+5.4% compared to the previous season). “Our initial forecast for this season was of 240,000 tons, but the good weather of the two months has helped in the production of more pods and this is sufficient for us to note an increase in production”, Sayina Riman from the Cocoa Association of Nigeria said.

Last year, Nigeria first set a production goal of 300,000 tons before seeing its ambitions thwarted by adverse weather conditions which limited the crop to 280,000 tons.

It is worth noting that Nigeria is nowadays giving an increasing importance to agriculture as oil prices have been dropping since last year, affecting the national economy and forcing the government to seek other sources of foreign currencies.