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Cameroon Cocoa Prices Rally As Quality Recovers--Farmers

17 Sep 2017 12:42 pm

By Emmanuel Tumanjong

YAOUNDE, Cameroon--Cocoa prices in Cameroon's key producing Center region were more than 11% higher than two weeks ago amid improved quality, several farmers and traders told Dow Jones Newswires Sunday.

They said each kilogram of cocoa beans sold between 800 and 930 Central African francs ($1.45 - $1.69), or 11.61% more than the XAF700 and XAF850/kg traders paid for the crop two weeks ago. The rise broke a months-long stretch of ample cocoa supplies, amid a lull between the just-ended midcrop and the upcoming main crop harvests, the farmers and traders said.

Central Cameroon accounted for nearly 40% of the third-largest African cocoa producer's crop harvest, according to government and industrial figures.

"Rains have slightly subsided and eased post-harvest handling of cocoa beans--appropriate fermentation and drying of beans. This has helped crop quality and triggered rise in prices," said Alphonse Emmanuel Nguile, vice president of a 50,000-member cocoa and coffee farmers' organization told Dow Jones from Bafia, a key cocoa-marketing town northwest of Yaounde.

Write to Emmanuel Tumanjong at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

September 17, 2017 08:42 ET (12:42 GMT)

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