Ivory Coast

Ivory Coast Raises Cocoa Farmgate Price By 20%

Ivory Coast has raised the fixed farmgate price paid to cocoa farmers by 20% the country’s agricultural minister said on Monday.

Ivory Coast’s Coffee and Cocoa Council (CCC) regulator has significantly curbed the hoarding of beans in September due to sanction threats.

The weather in Ivory Coast’s main cocoa-growing regions has been getting sunnier in the past week, allowing beans to mature.

Cooler-than-normal temperatures in the Ivory coast have raised some concerns for cocoa farmers regarding the crop.

Barry Callebaut shares fell after the chocolate maker announced that quarterly sales volumes had declined as cocoa prices boosted costs.

The Ivory Coast’s cocoa regulator has suspended purchase and export of cocoa beans for the month of June, sources said on Thursday.

The cocoa grind in the Ivory Coast was down 19.8% year-on-year in April amid heatwaves impacting growth in the country’s rainy season.

World cocoa prices fell by about 20% in two days as technical triggers prevailed thanks to record-low liquidity. Prices recovered on Tuesday.

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