Côte d'Ivoire Sets Record Cocoa Price for Farmers
Côte d'Ivoire, the world's leading cocoa producer, has announced a record-high farmgate price for cocoa at 2,800 CFA francs (€4.26) per kilogram for the main crop season. The announcement was made by President Alassane Ouattara, marking a significant increase aimed at benefiting local cocoa farmers amidst rising global prices.
Record Prices for Cocoa and Coffee
President Ouattara's announcement took place during a ceremony in Abidjan. In addition to the record cocoa price, the price for coffee was also set at 1,700 francs CFA (€2.59) per kilogram. The measures reflect the government's commitment to improving the livelihoods of farmers who have struggled for years.
Farmer Reactions and Market Context
Farmers have expressed their satisfaction with the new prices. Edmond M'Bra, a cocoa producer in central Côte d'Ivoire, told AFP that the increased prices would greatly improve the lives of producers. Berlem Oumarou, a farmer from the south, echoed this sentiment. This announcement comes at a time when cocoa futures in London were trading at 4,872 pounds per tonne for December delivery, and $6,921 in New York.
Côte d'Ivoire's Cocoa Sector: Key Facts
The Ivorian cocoa sector represents approximately 40% of global production, accounting for over 2 million tonnes annually, and contributes 14% to the country's GDP. According to government figures, the sector provides 1 million jobs and supports the livelihoods of 5 million people.
- Côte d'Ivoire is the world's leading cocoa producer.
- Cocoa contributes significantly to the national GDP.
- The sector provides millions of jobs.
Impact and Future Prospects
The new cocoa price represents a substantial increase compared to previous seasons. According to Koaci.com, this marks a rise of 1,000 CFA francs compared to the previous main campaign and 600 CFA francs compared to the 2025 mid-season campaign. The move is expected to improve farmer incomes and boost the rural economy, but the nation must also focus on stabilizing the struggling coffee industry. Afriksoir.net highlights the need to capitalize on the positive cocoa dynamics and find sustainable solutions to revive the coffee sector.
| Commodity | Price (FCFA/kg) | Price (EUR/kg) |
|---|---|---|
| Cocoa | 2,800 | 4.26 |
| Coffee | 1,700 | 2.59 |
