Cocoa prices steady after January export fall

A fall in January exports meant cocoa prices remained steady in Cameroon, Africa's fourth-largest cocoa producer, through mid-February after a
slight rise last month.

Buyers paid between 1,475 CFA francs ($2.48) and 1,600 CFA
Francs per kg in the Centre region, while prices ranged between
1,200 CFA francs and 1,400 CFA francs in the South, Southwest
and East regions.

Andre Belebenie, the national president of the cocoa and
Coffee producers of Cameroon, said a decline in exports in
January could explain the prize freeze. Exports fell from 38,748
tonnes in Dec. 2015 to 21,564 tonnes in January.

"(With) the buyers having slowed their activities for
reasons we don't understand, the price remains blocked," said
Belebenie, adding: "When there is activity, we sell to the
highest bidder and farmgate prices climb."

Emmanuel Awaha Nkok, a cocoa farmer in the Centre region,
said he believed the quality of beans and production, along with
prices, would rise in the next few weeks.

The central African country's Centre and South-West regions
produce 40 percent each of its cocoa output, the South 15
percent and the East 5 percent.

Cameroon's cocoa season runs from Aug. 1 to July 1, with a
main harvest cycle from October to January/February crop harvest period from April/May to June/July.