15 erring recruitment offices penalized in 3 months    MHRSD: 80% of recruitment offices are non-compliant with regulations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Alkhorayef praises advancements in Al-Kharj food industries sector    At least 50 Palestinians killed in Israeli strikes across Gaza    Trump claims meeting with China after Beijing denies any trade negotiations    Mass food poisonings cast shadow over Indonesia's free school meals    Police fatally shoot man at Toronto's international airport    Saudia Group signs deal with Airbus for flyadeal's first wide-body aircraft    Saudi non-oil exports surge 14.3 percent to SR26.11bn in February    Ministry of Justice launches centralized court model to enhance judicial efficiency    Saudi Arabia elected chair of Asia region of World Meteorological Organization    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Super Max Verstappen scorches to pole with record lap in Jeddah    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Ivorian cocoa prices rise as sector slowly revives
Published in Saudi Press Agency on 28 - 04 - 2011

Awwal 24, 1432 / April 28, 2011, SPA -- Ivorian cocoa farmers said on Thursday that prices for their beans were rising for the first time since the end of a violent post-election power struggle, but that smuggling continued into Ghana.
Banks began reopening on Thursday and cocoa exporters in the top grower nation said they expected shipments of beans to resume by the end of next week, key steps in reviving cocoa trade in the countryside, Reuters reported.
"The banks reopened this morning in Daloa. This is a good sign for the future, even if the buyers and exporters have not immediately restarted," said Attoungbre Kouame, who farms in the centre-west region of Daloa which produces about a quarter of the Ivorian harvest.
"At the moment, cocoa is selling for between 350 and 400 CFA frances per kilogram," he said, adding prices two weeks ago were between 250 and 300 CFA/kg. "We think prices will rise in the coming week with the resumption of trade and exports and the restart of banking operations," he said.
Ivory Coast's conflict started to ease in mid-April with the arrest of former leader Laurent Gbagbo, who had refused to step down after a November election, triggering a dispute that killed as many as 3,000 people and paralysed the economy.
In the western region of Gagnoa, the average price was around 350 CFA/kg compared with 250 CFA/kg three weeks ago.
"The prices are improving. We hope the prices will keep rising with the reopening of the banks," said Francois Badiel, head of the Gagnoa cocoa farmers' cooperative.
In the western region of Soubre, at the heart of the cocoa belt, farmers, who have began the harvesting the mid-crop which runs from April to October, were holding back their beans expecting higher prices in the coming week.
"There has been a small increase in prices. We are between 300 and 400 CFA/kg but farmers are holding back product because they think prices will rise further next week," said farmer Salam Kone. "There are lots of beans to sell, and the quality is good," he added.
In the eastern region of Abengourou, near the border of Ghana, farmers said much of the area's cocoa was being sold to smugglers headed for Ghana in recent months.
-- SPA


Clic here to read the story from its source.