Côte d'Ivoire Reduces Cocoa Purchase Prices by 57%

 Côte d'Ivoire's Ministry of Agriculture has set the purchase price for cocoa during the intermediate season at 1,200 CFA francs per kilogram ($2.12), announced Minister Bruno Nabagné Koné. This is 57% lower compared to the main season, when the price reaches 2,800 CFA francs ($4.94).

"The minimum guaranteed price for well-fermented, well-dried, and well-sorted cocoa is set at 1,200 CFA francs per kilogram," Koné wrote on social media.

He noted that the price adjustment takes into account the ongoing decline in cocoa prices on the international market.

In January, the Vice President of Côte d'Ivoire's Coffee and Cocoa Council (CCC), Oued Blondé Doua, stated that the authorities would purchase all cocoa currently stored in warehouses to assist producers. This was in response to a sharp drop in cocoa prices, which had left exporters unable to fulfill urgent contracts.