The woes of cocoa farmers in La Cote d’Ivoire, are going to deepen as reports suggest that, the Ivorian government is set to reduce the price of cocoa.
According to a report by Reuter News Agency, the government is looking at sharply reducing a bag of cocoa between 800 and 1, 000 CFA francs per kilogram.
The decision which is going to be implemented in March, forms part of measures to address mounting unsold stock, according to a report first published by Reuters.
The move will see cocoa produced next month classified under the mid-crop season instead of the main crop, marking the first time the West African nation has brought forward the start of its mid-crop season.
In the current arrangement, cocoa farmers will receive between 800 and 1,000 CFA francs ($1.45–$1.81) per kilogram — significantly lower than the current main crop price of 2,800 CFA francs per kilogram.
This is coming in the wake of earlier report by Reuters that cocoa farmers in that country are despair and are saddled with pile up of cocoa bags in their houses and warehouses because buyers are unable to buy them because of the reduction at the world market.
The amount being offered is even lower than what Ghana is offering to it farmers and some farmers have protested vehemently.
Ghana, the second largest cocoa producer in the world, is paying farmers GH¢2,587 per bag — for the remainder of the 2025/2026 crop season.
This means that cocoa producer price per tonne has been reduced to GH¢41,392.
The report by Reuters intimidates that the decision is aimed at helping the world’s largest cocoa producer, tackle a growing surplus caused by a slump in global cocoa prices.
The downturn has made Ivorian cocoa comparatively expensive, resulting in unsold bags piling up inland and at ports in recent months.
Government and regulatory sources told Reuters that the pricing adjustment is intended to boost sales and ease the pressure of excess stock.
By Gifty Boateng