Ivory Coast Suspends Plans to Boost Cocoa Yields on Price Drop
- Yield improvement programs to be suspended from October
- World’s No. 1 grower wants to control supplies to market
Cocoa beans.
Photographer: JANE HAHNThis article is for subscribers only.
Ivory Coast’s cocoa regulator plans to suspend programs that are assisting farmers to improve their yields after last season’s record crop caused prices to plunge, according to a letter obtained by Bloomberg.
Le Conseil du Cafe-Cacao, the industry governing body in the world’s biggest cocoa producer, will stop the distribution of higher-yielding planting materials such as seeds and seedlings from the start of the next season in October, according to the letter which was dated April 18 and signed by CCC Managing Director Yves Kone.