Economics
Ivory Coast Raises Cocoa Price for Farmers 10% From 2015
- Price paid to growers raised to 1,100 CFA francs a kilogram
- Production fell 13 percent to 1.6 million tons this season
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Ivory Coast, the world’s biggest cocoa producer, will boost the minimum price paid to farmers for their beans 10 percent from last year.
Growers will get a minimum 1,100 CFA francs ($1.86) a kilogram (2.2 pounds) for beans for the main crop starting in October, according to Abdourahmane Cisse, the country’s budget minister. That’s up from 1,000 CFA francs last season. The main crop runs from October to March.