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CÔTE D’IVOIRE CLOSES OUT SEASON 10% DOWN

The world’s biggest cocoa producer reportedly stopped export sales as it closed out the season 10% down on last year, equating to a drop of 250,000 tons.

If we consider that production will be down this year, we have finished our sales for this year

Yves Kone – General Manager, CCC

Last years harvest was always going to be hard to beat, however, as it marked a record high for the country of 2.3 million tonnes.

The country is now focused on the sales contracts for the 2022/23 harvest, which is currently being sold at a discount of around $200 a tonne. This is a move previously criticised by some observers, as being a way to circumvent the required Living Income Differential premium of $400 a tonne, aimed to help alleviate farmer poverty.

The CCC clearly doesn’t believe it has the leverage yet to impose higher prices and may explain why they are keen to foster more local purchasing power.

Author

  • Nick 2017 500X500 1

    organisation:

    Nick Baskett is the editor in Chief at Bartalks. He holds a diploma from the Financial Times as a Non Executive Director and works as a consultant across multiple industries. Nick has owned multiple businesses, including an award-winning restaurant and coffee shop in North Macedonia.

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