Cameroon cocoa exports down sharply in January on weak prices

YAOUNDE: Cameroon's cocoa exports nearly halved in January as farmers hoarded crops, waiting for prices to rise, the government said on Thursday.

Exports dropped to 21,564 tonnes in January, down from 38,748 in December and 34,731 in November, according to the National Cocoa and Coffee Board (NCCB).

"This export decline in January 2016 compared to the previous month is due to lower commodity prices.

Some organisations have preferred to keep a portion of their harvest to sell when the price rises," the NCCB said.

Telcar Cocoa Ltd was the top exporter with 5,517 tonnes, followed by Olam (4,740 tonnes) and Ndongo Essomba Settlements (3,009 tonnes).