Cocoa prices around the world have been on the rise and Ugandan farmers are hoping the trend means a brighter future.
CCTV’s Michael Baleke reports.
Uganda cocoa exports surge: Farmers hoping to reap big profitsCocoa prices around the world have been on the rise and Ugandan farmers are hoping the trend means a brighter future. CCTV's Michael Baleke reports.
There is a bumper harvest for cocoa in Central Uganda. Farmers are looking forward to more earnings as world market prices increase.
A campaign to popularize cocoa as a cash crop by the Uganda Agriculture Ministry has been ongoing for the last four years. Now, the country is fetching more from the export of the crop. Cocoa is Uganda’s fourth biggest commodity export after coffee, tea and fish.
Fetching more than $2 a kilogram on the Local Market, cocoa farmers are cashing in on their harvest.
Most of the cocoa beans produced in Uganda are exported in raw form, but Uganda now says it plans to set-up a cocoa processing factory to add value to the beans.
This means Uganda will start exporting intermediate products like cocoa powder, cocoa butter, and cocoa cake.
Even with the good prospects, the cocoa industry in Uganda is still facing a number of challenges, among them poor handling which is affecting the quality of the beans.