AIRLINK 177.92 Increased By ▲ 0.92 (0.52%)
BOP 12.88 Increased By ▲ 0.07 (0.55%)
CNERGY 7.58 Increased By ▲ 0.09 (1.2%)
FCCL 45.99 Increased By ▲ 3.97 (9.45%)
FFL 15.16 Increased By ▲ 0.32 (2.16%)
FLYNG 27.34 Decreased By ▼ -0.36 (-1.3%)
HUBC 132.04 Decreased By ▼ -2.47 (-1.84%)
HUMNL 13.29 Increased By ▲ 0.33 (2.55%)
KEL 4.46 Increased By ▲ 0.02 (0.45%)
KOSM 6.06 No Change ▼ 0.00 (0%)
MLCF 56.63 Increased By ▲ 2.12 (3.89%)
OGDC 223.84 Increased By ▲ 1.26 (0.57%)
PACE 5.99 Decreased By ▼ -0.04 (-0.66%)
PAEL 41.51 Increased By ▲ 0.21 (0.51%)
PIAHCLA 16.01 Increased By ▲ 0.39 (2.5%)
PIBTL 9.88 Decreased By ▼ -0.18 (-1.79%)
POWER 11.16 Decreased By ▼ -0.01 (-0.09%)
PPL 186.63 Increased By ▲ 2.64 (1.43%)
PRL 34.90 Increased By ▲ 0.59 (1.72%)
PTC 23.53 Increased By ▲ 0.19 (0.81%)
SEARL 94.96 Increased By ▲ 3.89 (4.27%)
SILK 1.14 Increased By ▲ 0.03 (2.7%)
SSGC 35.50 Increased By ▲ 1.52 (4.47%)
SYM 15.64 Decreased By ▼ -0.32 (-2.01%)
TELE 7.87 Increased By ▲ 0.01 (0.13%)
TPLP 10.93 Decreased By ▼ -0.08 (-0.73%)
TRG 59.20 Increased By ▲ 0.48 (0.82%)
WAVESAPP 10.78 Decreased By ▼ -0.01 (-0.09%)
WTL 1.35 Decreased By ▼ -0.01 (-0.74%)
YOUW 3.80 Decreased By ▼ -0.01 (-0.26%)
AIRLINK 177.92 Increased By ▲ 0.92 (0.52%)
BOP 12.88 Increased By ▲ 0.07 (0.55%)
CNERGY 7.58 Increased By ▲ 0.09 (1.2%)
FCCL 45.99 Increased By ▲ 3.97 (9.45%)
FFL 15.16 Increased By ▲ 0.32 (2.16%)
FLYNG 27.34 Decreased By ▼ -0.36 (-1.3%)
HUBC 132.04 Decreased By ▼ -2.47 (-1.84%)
HUMNL 13.29 Increased By ▲ 0.33 (2.55%)
KEL 4.46 Increased By ▲ 0.02 (0.45%)
KOSM 6.06 No Change ▼ 0.00 (0%)
MLCF 56.63 Increased By ▲ 2.12 (3.89%)
OGDC 223.84 Increased By ▲ 1.26 (0.57%)
PACE 5.99 Decreased By ▼ -0.04 (-0.66%)
PAEL 41.51 Increased By ▲ 0.21 (0.51%)
PIAHCLA 16.01 Increased By ▲ 0.39 (2.5%)
PIBTL 9.88 Decreased By ▼ -0.18 (-1.79%)
POWER 11.16 Decreased By ▼ -0.01 (-0.09%)
PPL 186.63 Increased By ▲ 2.64 (1.43%)
PRL 34.90 Increased By ▲ 0.59 (1.72%)
PTC 23.53 Increased By ▲ 0.19 (0.81%)
SEARL 94.96 Increased By ▲ 3.89 (4.27%)
SILK 1.14 Increased By ▲ 0.03 (2.7%)
SSGC 35.50 Increased By ▲ 1.52 (4.47%)
SYM 15.64 Decreased By ▼ -0.32 (-2.01%)
TELE 7.87 Increased By ▲ 0.01 (0.13%)
TPLP 10.93 Decreased By ▼ -0.08 (-0.73%)
TRG 59.20 Increased By ▲ 0.48 (0.82%)
WAVESAPP 10.78 Decreased By ▼ -0.01 (-0.09%)
WTL 1.35 Decreased By ▼ -0.01 (-0.74%)
YOUW 3.80 Decreased By ▼ -0.01 (-0.26%)
BR100 12,130 Increased By 107.3 (0.89%)
BR30 37,246 Increased By 640.2 (1.75%)
KSE100 114,399 Increased By 685.5 (0.6%)
KSE30 35,458 Increased By 156.2 (0.44%)

Ivory Coast cocoa farmgate prices were mixed this week with mouldy beans and little actual buying hurting some regions but traders starting to seek beans for the new season providing some support for prices elsewhere. Top grower Ivory Coast has endured a torrid 2008/09 season, with arrivals some 15 percent below last year's levels and the April-September mid crop failing to make up for ground lost in quality or volumes of beans.
The purchases manager of an exporter said the average price hit 700 CFA francs ($1.53) per kg in the bush compared with between 640 and 670 francs but quality and the volume of trade meant that few farmers were able to take advantage of it. "The prices have slightly improved to around 700 francs but very few sellers benefited from it because of the moisture in the deliveries. Many of the exporters are still on holiday and are getting ready to start up again next month," he added.
The main crop, which begins in October, is expected to be larger than last year but the lack of investment in the cocoa sector amid years of political turmoil is likely to continue weighing on the quality of the beans farmers produce. Benchmark cocoa futures in ICE hit a one year high on $2,999 a tonne earlier this year, boosted by fund buying and concerns that the El Nino weather pattern could have an adverse impact on global production.
The price dropped to $2,813 at 1103 GMT on Friday. In the western region of Soubre, the average price fell to between 400 and 450 francs per kg compared with 450 and 500 francs the previous week due to the high moisture content of beans and the mould, farmers said.
"The prices have gone down to between 400 and 450 francs. The buyers are complaining a lot about the moisture of the beans," said Roger Tano, who farms near Soubre. Average prices in the central-western region of Daloa, which produces a quarter of the national output, were unchanged at 400 francs but there were signs of increased activity. "The prices are the same but we are starting to see a lot of traders coming into the bush to renew contacts with the planters and start buying for the new season," said farmer Modeste Koffi.

Copyright Reuters, 2009

Comments

Comments are closed.