Top Cocoa Grower Cuts Farmer Price for First Time Since 2012
- Ivory Coast farmers will receive 700 CFA francs a kilogram
- Reduction follows a 30% slump in international prices
Workers fill sacks with cocoa beans on October 6, 2016 at an agricultural cooperative in Guiglo.
Photographer: SIA KAMBOU/AFP/Getty ImagesThis article is for subscribers only.
Ivory Coast cut the price paid to cocoa farmers by 36 percent, a blow to growers in the world’s top producer who have benefited from increases each year since the country reformed the industry in 2012.
Farmers will get 700 CFA francs ($1.14) a kilogram for the smaller of two annual harvests that starts next month, said Bruno Kone, a spokesman for the government in Abidjan. That’s down from 1,100 CFA francs for the main crop.