26. Cocoa is the countryrs most important cash crop and is grovrn mostry on theisland of Bioko. From the 1930s to 1970s, cocoa was produced on plantat,ions, ownedby Spanish and Portuguese nationals, and cultivated by Nigerian contract norkerswho numbered between 30r000 and 40,000. Before independence, cocoa production hadreached almost 40r000 tonnes a year, and cocoa exports accounted for about60 per cent of merchandise exports. Following the departure of foreign oreners andtraders and the Nigerian contract workers, cocoa production declined rapidly toabout 7'000 tonnes a year during the 1970s. The new Government has initiatedseveral measures to rehabilitate the cocoa sector; for example, it restoredplantations to former owners on the condition that they return within a certaintime and invest a minimum amount of capital from their oren resourcesi itestablished a number of co-operatives; it fostered the implementation of cocoaproduction projects financed with external assistance; and recently it hasincreased the price paid to the producer almost. threefold - from 150 CFA francs to400 CFA francs per kilogram. The Government is also trying to facilitate thereturn of foreign workers to the plantations. However, labour shortages, lack oftransport and electrical power, the high cost of inputs relat,ive to the officialproducer price continue to affect adversely the cocoa production. Exports ofcocoa, according to the Directorate General of statistics, during 1982-19g4, wereas follows (in tonnes):Oil s 1982 6 7L51983 1984 6 727 6 180A/40/430 English Page ll T imber 27. Equatorial Guinea has rich forests on Rio Muni and produces high quality timber. There are about 800,000 hectares of forestry land and eight concessionaries operate now on 240rOO0 hectares. After cocoa production, forestry represents the most important export activity. There is also some wood processing in the country. The exports of timber, which were estimated at about 70 per cent of total production, increased substant,ially in 1983 as compared to 1982. The Government has estimated the timber exports to be as follows during 1982-1983 (in tonnes): L982 1983 62 793 69 522
**Analysis**
The text primarily discusses the economy of Equatorial Guinea, specifically its major cash crops, forestry, and exports. It highlights the country's efforts to rehabilitate its cocoa sector and increase timber exports. The text also touches on the challenges faced by the country, such as labor shortages and lack of infrastructure.

**Category**
Agriculture, forestry and fishing, Economic development