More and more countries situated in the magic band of 20 degrees north and south of the equator are giving cocoa another look. The high prices of the moment are probably an important factor.
Uganda is not a name usually associated with cocoa. But the country has been busy expanding its cocoa acreage over the past eight years. According to Bloomberg, the state-run Cocoa Development Project expects next year’s harvest to increase by 13 percent. The expansion of cocoa is an attempt to diversify its agricultural exports that currently depend mostly on coffee and tea. These commodities contribute 22% to the GDP.
The total is still a miniscule 17,000 tons. But the trend is upward and the country expects to reach 50,000 tons by 2015/16. By comparison, the Côte d’Ivoire exported 1.2 million tons last season.