Liberia\u2019s cocoa market regulator, the Agriculture Commodity Regulatory Authority (LACRA), dropped unwelcome news on Liberia\u2019s small and struggling farmers. Following C\u00f4te d\u2019Ivoire\u2019s unfortunate lead, they have dropped the price of cocoa.<\/p>\n\n\n\n
The reduction is not as significant as the 18.5% cut announced by the CCC in C\u00f4te d\u2019Ivoire however, but at 3% it does, in fact, bring the price pari passu with their eastern neighbour.<\/p>\n\n\n\n At 3% it does, in fact, bring the price pari passu with their eastern neighbour.<\/p><\/blockquote><\/figure>\n\n\n\n Not that this will be of much comfort to the impoverished farmers who may not even get the official farmgate price. As we wrote recently, some unscrupulous traders will tour the farms and buy the cocoa for cash, at a significant discount to the official farmgate price.<\/p>\n\n\n\n Cash-poor farmers are often enticed by the prospect of some cash now in their pocket, over a higher payment later.<\/p>\n\n\n\n This seemed to be something Dr Flomo, the Director-General of the regulator alluded to when making the new pricing announcement at their headquarters.<\/p>\n\n\n\n