GEPEX exporters end Ivorian cocoa auction boycott -sources

ABIDJAN Feb 23 (Reuters) - The GEPEX group of exporters that accounts for about 55 percent of Ivory Coast's cocoa exports has agreed to end its boycott of auctions, three industry sources told Reuters on Thursday.

The group, which includes Nestle, Cargill , Barry Callebaut, Olam and ADM Cocoa, will take part in auctions starting from Friday, the sources told Reuters, asking not to be named.

Many main exporters in the world's top grower had boycotted the auctions for forward sales of next season's crop, arguing that reforms, aimed at guaranteeing farmers about 50 to 60 percent of the market price, were unclear and unworkable.