Farmgate prices in Ivory Coast's main cocoa growing regions rose last week as exporters attempted to compensate for the disrupted season by buying as much cocoa as possible, farmers and shippers said on Tuesday. A blockade on beans leaving the bush by farmers campaigning for highr prices began to ease last week, and buyers are snapping up cocoa as soon as it comes up for sale.
"Demand is very strong," said a purchasing manager for a European exporter. "All the exporters are trying to buy to make up for lost time," he said. Arrivals at ports of beans ready for shipment are less than one-half of what they were at this time last year and exporters say quantities shipped in the first three months of the 2008/09 marketing season will be low.
As well as the farmers' blockade, the start of the season has been marred by administrative chaos, bad weather and disease, though the quality of beans is beginning to rise. "Quality is good compared with the previous weeks. Beans are well dried, and contain less moisture," the purchasing manager said.
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