Datasets for correlation dynamics of cocoa production in South Western Nigeria

In the Nigeria economy, cocoa production has been of great importance. This buttresses the fact that cocoa as a product is the leading agricultural export of Nigeria, leaving the country currently as the world fourth largest producer of cocoa, after Ivory Coast, Indonesia and Ghana and the third largest exporter, after Ivory Coast and Ghana. Hence, there is need for the agricultural sector expansion, effective predictive models and reliable price mechanism. This article examines tonnes of cocoa production dataset of the Nigeria agricultural sector for the period of twenty-four (24) years spanning between 1993 to 2016. The Correlation dynamics examined includes the autocorrelation features as affected by the production rate within the considered time interval. The degree of similarity between the dataset and the corresponding lagged version of itself over successive time interval is measured using a serial correlation test while the results mostly favour negative correlation showing that large current values correspond to small values at the specified lag. These dataset can effectively serve as good candidate for agricultural product modelling in terms of forecasting.