Home World News Ivory Coast raises cocoa farmgate price by 50%

Ivory Coast raises cocoa farmgate price by 50%

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Ivory Coast raises cocoa farmgate price by 50%

Ivory Coast’s President Alassane Ouattara has decided to increase the official price for cocoa farmers from 1,000 to 1,500 CFA francs per kilogram, according to sources from five export companies.vory Coast's President Alassane Ouattara

This decision follows a government meeting where various proposals were discussed. Initially, a price range of 1,100 to 1,200 CFA francs per kilogram was considered, but Ouattara opted for the higher price to better support cocoa producers. Ivory Coast raises cocoa farmgate price by 50%

The move comes as global cocoa prices have surged due to disease and adverse weather conditions, leading to a significant deficit in the market.

Despite these price increases, the government and the Cocoa Council could not be reached for comment.

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