Farmgate cocoa prices in the world's fifth-largest grower, Cameroon, rose as much as 10 percent by mid-September in some areas compared with the previous month due to increased demand and better growing conditions, officials said on Friday. In the main cocoa trading centre of Kumba, in the South West Region of the country, prices rose to 1,140 CFA francs ($2.28)per kg, from 1,025 CFA the previous month.
In Bafia, the main cocoa trading centre in the Centre Region, Emmanuel Nguile, a farmer and local co-operative union leader said prices rose to between 1,075-1,100 CFA francs per kg, while in Emana in the same region, prices rose to between 1,025-1,075 CFA francs from about 1,000 CFA the previous month.
"Cocoa is now selling at 1,140 CFA francs per kg in Kumba. This is the highest price we've recorded at this time of the year over the last three seasons," said Joseph Nde, manager of a cocoa growing and exporting firm in Kumba. Nde said prices were supported by a steady spell of sunshine, which made it easier not only to dry cocoa beans but also to transport the produce from hinterland farms.
"Secondly, we continue to have many buyers coming in from the economic capital Douala (which has increased demand)," he said. Camaco, was the country's third-largest cocoa exporter during the 2011/12 season, after Telcar Cocoa Ltd and Olam Cam.