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SW Cameroon Cocoa Prices Higher on Stronger Nigerian Demand

26 Mar 2017 3:02 pm
 
   By Emmanuel Tumanjong 
 

YAOUNDE, Cameroon--Nigerian demand for Cameroonian cocoa shored up prices paid for the crop in South-West Cameroon this week, farmers and traders said Sunday.

Cross-border buyers were offering 1,260 and 1,195 Central African francs ($2.07-$1.96) per kilogram of cocoa beans sold in this third-largest African nation's leading cocoa province, up 2.07% from XAF1,215 and XF1,190 they had paid for the crop last week.

It is nearly seven weeks that prices paid for cocoa beans have risen in the Manyu division, the Cameroonian locality bordering eastern Nigeria.

Soaring prices in Manyu leaves big gaps for cocoa sold in other parts of southwestern Cameroon, where ample stocks have led to lower farmgates prices.

This week, a kilogram of cocoa beans was being sold for XAF700 and XAF705 in and around the main growing town of Kumba, according to farmers and traders.

Favorable weather has continued to improve output during this period of main crop harvests, they said.
 

Write to Emmanuel Tumanjong at generaldesklondon@dowjones.com
 

(END) Dow Jones Newswires

March 26, 2017 11:02 ET (15:02 GMT)

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