Cocoa farmgate prices in Ivory Coast's main growing regions were mixed last week, with thin volumes at the end of the main crop supporting prices in some areas and poor quality of beans depressing them elsewhere, farmers and buyers said on Wednesday.
Cocoa prices in the world's top grower had been climbing steadily in recent weeks after a stretch of dry and windy weather dimmed the production outlook. In the western region of Issia, farmers said the average price was 650 to 725 CFA francs ($1.45) per kg versus 650 to 700 CFA francs the previous week.
"There's a battle going on for the last beans of the main crop," said Issouf Kone, a farmer and co-operative manager. "Everything is gone from the trees. We are waiting for some rain to know when we will have some more cocoa." In the western region of Soubre, at the heart of the cocoa belt, farmers said the average price remained steady between 700 and 750 CFA francs. "Demand is strong, the prices are good, but the farmers have no cocoa left," said farmer Salam Kone.
In the centre-western region of Daloa, producing a quarter of Ivory Coast's national output, farmers said the average price declined to between 650 and 700 CFA francs per kg versus 700 CFA francs per kg the previous week as beans were small and of poor quality. A purchase manager at an Abidjan-based European cocoa exporter said cocoa prices at the port ranged between 790 and 810 CFA francs per kg. They were 790 to 820 CFA francs the previous week.