The cocoa beans yield in Nigeria stood at 2.42 thousand hectograms per hectare in 2023, showing a 1.70% year-on-year decline. Over the past decade, there has been a persistent downtrend, with an average annual contraction (CAGR) of approximately -1.79% from 2013 to 2023. In recent years, the fluctuations have reflected similar patterns, with modest rebounds in certain years failing to reverse the long-term downward trajectory.
In the forecast period from 2024 to 2028, the cocoa beans yield is expected to continue its decline, with an anticipated average annual decrease of -1.5%. By 2028, the yield is projected to be about 2.20 thousand hectograms per hectare, representing an overall decrease of 7.3% from 2023 levels.
Future trends to watch for include the impact of climate change, changes in agricultural practices, and potential government interventions aimed at boosting yields. Additionally, global market demand and local economic factors could significantly affect the productivity and profitability of cocoa farming in Nigeria.
