commodity markets

Nigerian stakeholders are pushing for urgent reforms to capture more of the global shea butter market worth $6.5 billion, while regional competitor Ivory Coast prepares to set mid-crop cocoa prices amid tightening commodity markets.

Nigeria has announced plans to become a full member of an international palm oil producing bloc, with its observer status set to expire in November 2026, marking a strategic shift for Africa's most populous nation in the global edible oils market.

Global cocoa futures have fallen below $4,000 per metric ton in recent weeks, marking a sharp reversal from historic highs that had squeezed chocolate manufacturers and threatened production in top exporters Côte d'Ivoire and Ghana.