Ivory Coast Curbs New Cocoa Purchases From Two Major Traders
- CCC restricts Cargill and Barry to help others meet contracts
- London cocoa futures recently rose to a six-year high
Harvested cocoa pods in a collection bucket on a farm in Azaguie, Ivory Coast.
Photographer: Andrew Caballero-Reynolds/BloombergThis article is for subscribers only.
Top cocoa producer Ivory Coast is restricting some multinational traders from additional bean purchases for exports as the country seeks to avoid a shortage, according to the head of the local regulator.
Regulatory body Le Conseil Cafe Cacao — known as CCC — has blocked Cargill Inc. and Barry Callebaut AG from buying more beans after both traders reached the amounts stipulated in their current contracts, CCC Managing Director Yves Kone said by phone. It is part of an effort to help other shippers source enough beans to meet their own sales commitments.