Ivory Coast, the world’s leading cocoa producer, is facing an unprecedented crisis. Details

This article was automatically translated from HIBAPRESS, the Arabic version:

HIBAPRESS-RABAT-Agencies

Ivory Coast, the world’s leading cocoa producer, is facing an unprecedented crisis. The dizzying rise in port prices, fueled by speculation and an artificial shortage, is pushing exporters to drastically reduce their purchases. Producers, for their part, see their income compromised by an opaque marketing system and illegal practices.

Faced with growing demand and limited supply, they are forced to accept exorbitant prices imposed by suppliers. “We have had to resolve to significantly slow down our purchases of cocoa in the bush since mid-December because of price inflation at the ports,” laments a manager.

Faced with this alarming situation, stakeholders in the cocoa sector in Côte d’Ivoire are calling on the regulator, the Coffee-Cocoa Council (CCC), to intervene. It is urgent to put an end to illegal practices, strengthen controls and guarantee fair distribution of income.

“The regulator must play its role and act to put an end to this by sanctioning traders, strengthening stock controls in the bush and putting an end to speculation on sales contracts,” asks an exporter.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button