Cocoa farmgate prices in Ivory Coast's growing regions were mixed in the past week as high humidity levels and mouldy beans weighed in some regions, while purchases picked up elsewhere, farmers and exporters said. The world's No 1 grower is gradually stabilising after months of post-election turmoil brought the industry to a halt amid fighting and a ban on cocoa exports, which ended only in April.
A purchasing manager of a European cocoa exporter said the average price at the port of Abidjan for beans of good quality was around 850 CFA francs ($1.87) per kg, around the top end of the price range for the week before. But poor quality beans squeezed prices for some sellers, he said.
"There has been a pick-up in activity. However, there was lots of moisture in the deliveries - so much so that many of the sellers were not able to get the prices they were asking for," said the manager, who asked not to be named. In the eastern region of Abengourou, near the border with Ghana, farmers said the average price fell to 650 CFA francs, from 700-750 CFA francs the previous week.
"There is cocoa, but we are no longer seeing many Ghanaian buyers like we used to. The lack of competition is depressing the price a bit. Otherwise, the quality is good," said farmer Joseph Amani. Farmers and analysts said large amounts of Ivorian beans were smuggled into Ghana during the political crisis, adding to the world No 2 grower's record crop. But Ghana has denied that large volumes flowed across the border.
In the western region of Soubre, at the heart of the cocoa belt, farmers said the average price was 600 CFA francs per kg, up from 500-550 CFA francs. "There are lots of merchants trying to build their stocks. The prices are good for us," said Lazare Ake, who farms in the outskirts of Soubre.
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