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Cocoa Farmers in Top Producer May Miss Out on Surging Prices

  • Farmgate price seen stable at around 700 francs a kilogram
  • Output for the season’s smaller crop could reach 500,000 tons
Cocoa Production in Japan
Photographer: Akio Kon/Bloomberg
Updated on

Cocoa prices have surged by a third this year, but that’s still unlikely to translate into big gains for farmers in top producer Ivory Coast.

The West African nation uses forward sales to determine the minimum farmer price, so recent gains may have come too late for the smaller of two annual harvests that starts next week. That will limit President Alassane Ouattara’s ability to boost farmer rates.