Nigeria cocoa exports stalled over Covid-19 safety protocols
INTERNATIONAL – Health protocols introduced by Nigerian authorities to curb the spread of the Covid-19 disease have delayed cocoa exports, leaving at least 30,000 tons stranded at the Lagos port and in warehouses.
Under rules introduced by shipping regulators, crew of vessels entering the country’s waters are required to observe a mandatory 14 day quarantine period before they can discharge their goods or take up fresh cargo, according to Muftau Abolarinwa, president of the Cocoa Association of Nigeria, which groups farmers, traders and processors. The disruptions have stalled the shipment of cocoa at the Lagos port and delayed arrivals from farms and warehouses, he said.
Though most of the shipments are meant to fulfill futures contracts, most exporters are anxious to avoid further postponements, said Abolarinwa. “Further delays at the ports might result in the cargoes getting to their destinations late and could result in contract defaults,” he said.
Source: iol.co.za
