Ivory Coast Mulls at Least 23% Cocoa Price Hike for Next Harvest
Cocoa beans dry outside in Daloa, Ivory Coast.
Photographer: Paul Ninson/BloombergThis article is for subscribers only.
Ivory Coast, the world’s top cocoa producer, is considering raising farmgate prices for the coming harvest above rival Ghana, although growers in both countries would still be fetching well less than the global market.
The industry regulator Le Conseil Cafe-Cacao is seeking to set a price between 1,850 CFA and 2,000 CFA per kilogram of well-dried cocoa for the main crop starting in October, according to people familiar with the matter, who asked not to be named because the information was not public. That would be an increase of at least 23% from the mid-crop harvest that will wrap up this month and equates to $3,140 to $3,400 per ton.