(Business in Cameroon) - Yesterday October 5, 2020, cocoa purchase price rose to a high of XAF1,050 in Cameroon, after stagnating around XAF1,000 since September 3, 2020. This was revealed by data from SIF, the information system set up by the national cocoa board NCCB for live information on commodity prices.
This slight price increase was recorded despite the rainy season. Usually, cocoa purchase prices drop during the rainy season because of additional transport costs buyers would incur since access to production areas become hard in these times.
Nevertheless, this price rise could be because the 2020-2021 cocoa season was officially launched in Cameroon just days ago. This launch usually paves the way for contractural purchases.