The regulatory agency for Sierra Leone’s produce sector has announced new prices for cocoa beans citing change in market dynamics at the international level.
The Sierra Leone Produce Marketing Board (SLPMB) in a public statement seen by Awoko notes its indicative price for cocoa beans has been reduced to Le13,000 ($3) per kilo, while coffee beans is Le5,000 ($1) per kilo.
The release maintained “that due to the global decline of commodities prices in the world market, the indicative price for cocoa and coffee beans has been reviewed in the local market to reflect the trend in the international market.”
Sierra Leone is one of few countries in the sub-region that produce cocoa and coffee. The sector was badly hit by the civil war, and the country has been reviving the sector.