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The World Cocoa Foundation provides significantly lower figures for Indonesia, but concurs that it is the largest producer of cocoa beans outside of West Africa. [9] Large chocolate producers such as Cadbury , Hershey's , and Nestle buy Ivorian cocoa futures and options through Euronext whereby world prices are set.
Financial assistance from the World Bank in the 1980s and a transition to a free market economy in 1990 failed to rejuvenate cocoa production on the islands. A 1998 slump in cocoa prices further reduced production, and by the turn of the century most cocoa farmers were producing the crop merely to maintain their property rights. [28]
Cocoa production is important to the economy of Nigeria.Cocoa is the leading agricultural export of the country and Nigeria is currently the world's fourth largest producer of cocoa, after Ivory Coast, Indonesia and Ghana, [1] and the third largest exporter, after Ivory Coast and Ghana. [2]
The International Cocoa Organization (ICCO) is a global organization, composed of both cocoa producing and cocoa consuming countries with a membership. Located in London , ICCO was established in 1973 to put into effect the first International Cocoa Agreement which was negotiated in Geneva at a United Nations International Cocoa Conference .
In 2016, cocoa beans were cultivated on roughly 10,200,000 hectares (25,000,000 acres) worldwide. [15] Cocoa beans are grown by large agroindustrial plantations and small producers, the bulk of production coming from millions of farmers with small plots. [16] A tree begins to bear when it is four or five years old.
Cocoa farms are generally very small, family owned and operated businesses. There are approximately 4.5 million cocoa farms around the world. The majority of cocoa farms are located in Ivory Coast and Ghana. [2] In Ghana, Cocoa contributes 64% of all exports. [6] Traditional cocoa farms are planted in the shade among other crops and trees.
This is a list of countries by coconut production from the years 2017 to 2022, based on data from the Food and Agriculture Organization Corporate Statistical Database. [1] The estimated total world production of coconuts in 2022 was 62,409,431 metric tonnes , down 0.6% from 62,791,068 tonnes in 2021. [ 1 ]
[1] [8] Flavor cocoa producers are primarily considered Central and South America and the Caribbean. [10] Markets for flavor cocoa as of 2017 had experienced strong growth for two decades. [1] As of 2017, an estimated 9% of the world crop, around 263 000 tons of fine cocoa were produced. [2]