Cocoa farmgate prices in top grower Ivory Coast fell last week as quality dropped alongside volumes at the tail end of the main crop, farmers and buyers said on Tuesday. A lack of rain between November and early February in most regions meant the last beans of the crop were small and with limited chocolate content, leading buyers to refuse price increases despite the scarcity of supply.
"The volumes coming out of the bush are weak but we're not going to accept an increase in prices given how small the beans are," said a purchases manager of an international cocoa exporter in Abidjan. Prices at the port of Abidjan were between 790 and 800 CFA/kg, compared with 790 to 840 CFA/kg the previous week, he said, asking not to be named.
In the centre-western region of Daloa, which produces a quarter of Ivory Coast's national output, farmers said the average price fell to between 550 and 600 CFA francs ($1.21) per kg, from between 650 and 700 CFA/kg the week before. "The prices are falling because the quality is not there," said farmer Attoungbre Kouame. In the western region of Bouafle, farmers said the average price ranged from 500 to 600 CFA/kg, from at least 650 CFA/kg a week ago.
"The beans are small and have weak chocolate content," said farmer Denis Alla. "We are seeing bean sizes of 130 beans per 100 grams, and the norm is 100 beans for 100 grams," he said. The same reason was reported in the western region of Duekoue, where farmers said prices has declined to around 600 CFA/kg from about 650 CFA/kg a week ago. In the western region of Soubre, at the heart of the cocoa belt, farmers said the average price slipped to between 650 and 700 CFA/kg from 700 to 750 CFA/kg.
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