Can the world’s number one cocoa producer implement cuts when i relies on a million small producers that operate independentlyWorkers fill sacks with cocoa beans in Soubré, Ivory Coast. Picture: REUTERS/THIERRY GOUEGNON
This should equate to a price for farmers next season of at least 1,000 CFA francs per kilogram, compared to 825 for this season, though it could be well above that if international prices rise. Benchmark cocoa futures on ICE hit their highest in a year and a half in November, helped in part by the LID announcement, but they could fall again if output in West Africa surges.
agui — territories which account for nearly 70% of the Ivorian crop. Most of them said the authorities need to do more to encourage diversification. “I really don’t see how they can do it, I don’t see any sort of plan [and] I question whether they have one,” said an industry expert, who did not wish to be identified. “If they were prepared to expel hundreds of thousands of women and children from [protected] forests that would impact production, but what do you do with tens of thousands of refugees?” the expert said.
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