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Côte d’Ivoire / Ghana: Suspends sales of Cocoa; Set up a Minimum Price.

The General Manager of Ghana cocoa Board, Joseph Boahen Aidoo has revealed that, the first two world producers of cocoa, the Ivory Coast and Ghana has decided to suspend the sales of the period 2020/2021 in order to set up a minimum price.

The goal behind this decision is to better compensate the producers with the Ivorian government setting the field price of cocoa at 750 CFA Francs per kilo this year but, the latter was never respected.

It estimates that 1000 Francs per kilo would be a decent price since Ivorian producers have to pay a few loads. They receive only $ 6 billion of the $ 100 billion that the global cocoa market represents.

According to a Ghanaian manager, Joseph Boahen Aidoo the two countries would like to establish a floor price of $ 2600 per ton adding that, this price has been approved, on the principle, by participants, producers, traders.

However, President of the National Association of producers of Côte d’Ivoire or anaproci, Kanga Koffi stated that, they are waiting to see what will be the real impact on the field for producers adding the State of côte d ‘Ivoire has already raised 38 billion CFA Francs of subsidies but, the producers did not benefit from it.

The CEO of the French Chocolatier Cémoi entrusted patrons that, Cocoa is not a very expensive raw material, hoping between the year 2020 and 2021, the price requested by Ghana and the coast of Ivory will become the market price.



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