Cocoa prices fall as drought delays purchases

Cameroon farmgate cocoa prices fell in August as major buying was delayed by drought in some regions, farmers said on Wednesday.

Prices ranged from 1,000 CFA francs ($1.72) per kilogramme of cocoa in the southwest to 1,200 CFA francs in the centre of the central African country, producers said, down from prices as high as 1,700 CFA in July.

"The crops are lagging behind because of a long drought," said southwest cocoa producer Andrew Nya.

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