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By: Paakhwesi Faith
Côte d’Ivoire has slashed the price paid to cocoa farmers by about 57 percent, reducing the producer price from 2,800 CFA francs per kilogram to 1,200 CFA francs per kilogram, a move that has raised concerns across the West African cocoa sector.
The decision by the Ivorian authorities comes amid changes in the global cocoa market and efforts to stabilize the country’s cocoa industry.
Côte d’Ivoire remains the world’s largest cocoa producer, supplying a significant portion of the global cocoa market. Any change in the country’s cocoa pricing policy often has a ripple effect across the international cocoa industry and neighboring producing countries.
Meanwhile, cocoa farmers in Ghana continue to receive GHS 2,587 for a 64-kilogram bag of cocoa, as determined by the Ghana Cocoa Board (COCOBOD).
The contrast in producer prices between the two leading cocoa-producing countries has sparked discussions among stakeholders about potential impacts on farmer incomes and cross-border cocoa trade.
Industry analysts say such price differences could encourage smuggling of cocoa beans across borders, particularly from countries with lower producer prices to those offering higher payments.
Together, Côte d’Ivoire and Ghana account for more than 60 percent of the world’s cocoa production, making pricing policies in both countries critical to the global cocoa market.
Observers are closely watching how the development will affect cocoa farmers, regional trade, and the broader cocoa industry in West Africa.
Source: Locotvgh