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Buyer Influx Into Central Cameroon Prompts Cocoa Price Rise

10 Oct 2017 11:17 am
   By Emmanuel Tumanjong 
   Special to Dow Jones News Wires 

YAOUNDE, Cameroon--Cocoa traders in central Cameroon are paying around 3% more for beans compared with a fortnight ago, farmers and traders said Tuesday.

They say that a harvest lull and political unrest in the main cocoa-growing Southwest Region have caused the price to rise.

Many traders have left the region and started buying in central Cameroon and other parts of the country.

One kilogram of beans is selling for between 810 and 975 Central African francs ($1.45 - $1.75), which is an aggregate 3.17% higher than the XAF800 and XAF930/kg that traders paid two weeks ago.

Prices have risen for two weeks, ending a stretch of lower prices caused by a supply glut during the midcrop harvests.

Central Cameroon accounted for nearly 40% of the fourth-largest African cocoa producer's crop harvest, trailing the Southwest region that produces at least half the country's output, according to government and industrial figures.

Write to Emmanuel Tumanjong at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

October 10, 2017 07:17 ET (11:17 GMT)

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