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NAIROBI, Kenya -- Strong demand from buyers pushed up prices slightly at the Nairobi weekly auction, dealers said Tuesday. "The auction was very firm on the back of very strong demand," said one dealer at the auction. "The quality was good all round." Other dealers said prices may remain high at the auction in coming weeks as the quality continues to improve. A total of 26,139 50-kg bags were offered at the auction. The following were highest lowest and average prices in dollars per 50-kg bag, quoted by Coffee Board of Kenya. The following are offered for April shipment FOB Mombasa Quoted by Esco Kenya. By Patrick Majute; Dow Jones Newswires; 254 20 285 9106; pmajute@ap.org Dow Jones Newswires 03-28-06 1000ET |
African Financial News |
Sunday, April 02, 2006 |
DJ Kenyan Coffee Auction Prices Rise On Strong Demand |
Farmgate cocoa prices in southwestern Nigeria remained steady Friday at 190,000-195,000 naira ($1,491-$1,531) a metric ton, the same level as last week, buyers said. A buyer in Akure, Ondo State, said local buying agents and exporters resisted demands for higher prices by farmers. "There is still some cocoa in the market. This is the stock hoarded by farmers for which they demanded higher prices," he told Dow Jones Newswires. He added that a small number of exporters, who had overseas orders, were buying at current prices. Another buyer in Abeokuta, Ogun State, also said exporters bought hoarded cocoa at up to NGN195,000 per ton. "We have seen exporters coming from Lagos State in the past fortnight to buy our cocoa. They are willing to pay the current prices," he said. Lagos shares a border with Ogun. Other traders contacted in the southwest states of Oyo, Osun and Ekiti all quoted farmgate prices of between NGN190,000 and NGN195,000 a ton. A Lagos-based exporter said that prices of graded cocoa, which had been certified fit for export, was Friday still selling at NGN200,000-NGN205,000 a ton, the same as last week. The exporter said cocoa exports from Lagos ports were at a standstill because of the nearly week-long national population census which began Tuesday. He added dockers stayed home, commercial banks were shut and public transportation grounded after the sit-at-home order of the government of Lagos State. Nigeria's federal government declared Friday and Saturday a public holiday to allow for a proper census. Normal port activities are expected to resume Monday. By Obafemi Oredein; Dow Jones Newswires Dow Jones Newswires 03-24-06 1051ET Copyright (c) 2006 Dow Jones & Company, Inc. |
DJ Nigeria Cocoa Prices Steady At NGN190,000-195,000 -Buyers |
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