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South-West Cameroon Cocoa Prices Slip on Supply Glut--Farmers, Traders

14 Jan 2018 3:07 pm

By Emmanuel Tumanjong

YAOUNDE, Cameroon--The high supply of cocoa beans in Cameroon's chief crop growing Southwest region has weighed down prices paid for the crop this week, traders and farmers told Dow Jones Newswires Sunday.

Traders and farmers said between 590 and 775 Central African francs ($1.09-$1.44) was paid for a kilogram of cocoa beans, a fall from XAF650-XAF780/kg the crop sold the week before, according to farmers and traders.

Cash-strapped farmers supplied much cocoa beans at the farmgates, but also blamed the price drop on the absence of Nigerian buyers who used to cross borders to buy beans from the cocoa-growing Manu division.

The Nigerian traders have fled southwestern Cameroon due to months of rising political tensions.

Write to Emmanuel Tumanjong at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

January 14, 2018 10:07 ET (15:07 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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