Ivorian cocoa: the price set at 750 Fcfa / Kg for the intermediate campaign

Posted on 03.31.2021 at 4:25 p.m. by AFP

Côte d’Ivoire, the world’s largest producer of cocoa, set Wednesday the minimum guaranteed farm gate price for cocoa beans at 750 Fcfa per kg for the 2020-2021 intermediate campaign against 1,000 Fcfa during the main campaign.

The Ivorian head of state, Alassane Ouattara, announced in October 2020 the price per kg for the main campaign, set at 1000 Fcfa, up 175 Fcfa, on the occasion of the 7th edition of National Chocolate Day , in Yamoussoukro.

He assured that the government had decided “not to lower producer prices”. But, in view of the Covid-19 health crisis which has slowed down the marketing of cocoa and budgetary constraints, the State of Côte d’Ivoire has had to review the price to this level.

The Coffee-Cocoa Council and the Ghana Cocoa Board, the sector’s regulatory bodies, have implemented a floor price concept, instituting a Decent Income Differential (DRD) of US $ 400 per tonne for any sales contract of cocoa obtained from the two countries for the 2020-2021 campaign.

After negotiations on the Decent Income Differential set at $ 400 (236,471 Fcfa) per tonne of cocoa, Côte d’Ivoire and Ghana failed to convince all chocolate makers and manufacturers to conclude their first sales of the harvest 2020/2021.

Côte d’Ivoire and Ghana, which account for nearly 65% ​​of world cocoa production, want through this mechanism to influence world prices for the benefit of farmers. However, in the context of Covid-19, their efforts appear blunted.

Cocoa, Côte d’Ivoire’s main commercial product, represents “more than 50% of the GDP of the country’s exports and 15% of the gross domestic product (GDP). It provides employment for 7 million Ivorians, according to a report by the African Development Bank (AfDB).

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