Ivory Coast: Cocoa, the government is ready to mobilize 280 billion CFA francs to save around 100,000 tons of beans and protect producers.

Cocoa: Ivory Coast mobilizes 280 billion CFA francs to maintain the price at 2,800 CFA francs/kg

In response to tensions in the cocoa market, the Ivorian government has announced that it will mobilize 280 billion CFA francs to support the sector and guarantee the farm gate price of cocoa at 2,800 CFA francs per kilogram until the end of the main season on March 30.

The announcement was made by the Minister of State, Minister of Agriculture, Rural Development and Food Production, Kobenan Kouassi Adjoumani, at a press conference held in Abidjan. According to the authorities, approximately 123,000 tons of cocoa are currently stored in production areas, particularly in Duékoué.

The minister specified that if the state were to purchase around 100,000 tons of cocoa, taking into account the volumes already sold, the financing requirement would be covered by bank loans mobilized under the coordination of the Coffee and Cocoa Council. To date, more than 85% of national production has already been sold in advance, a mechanism designed to stabilize prices and secure producers' incomes.

The authorities have also denounced attempts by some buyers to offer prices below the official rate, in violation of the regulations in force. Enhanced control measures have been put in place, particularly at the borders, to combat these practices.

Regarding reports of trucks blocked at the port, the minister said that 102 trucks had been identified, 62 of which did not have the required documents. An investigation is underway to determine who is responsible.

The government has reaffirmed the President's commitment to mobilize the necessary mechanisms to ensure the stability of the cocoa market and the protection of producers.