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Nigerian Cocoa Grinders Say Face Fight for Survival

Nigeria, already hit by low oil prices, faces a threat to its cocoa sector with industry officials saying its few remaining grinders could close. The rise in the cost of raw beans coupled with a sharp depreciation in the naira currency made it unattractive for them to tap export demand for butter, grinders say. The plants face the risk of permanent closures, which would lay off workers and affect creditors unless the central bank makes it easier for them to source dollars, analysts...

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