Côte d'Ivoire and Ghana, the world's two largest cocoa producers, are suspending their sales until further notice for cocoa which will be harvested in October 2020. The two countries are thus trying to obtain a floor price from the market. Stated objective: to better remunerate producers.

Two days of discussions between players in the sector in Accra, Ghana and a showdown. Arm wrestling between the two main cocoa producers, two-thirds of world production, on the one hand, and the markets on the other.

Objective: to obtain a floor price. The actors agreed on the threshold of 2,600 dollars per ton. A new meeting to fix the precise modalities is convened for July 3 in Abidjan.

Concretely, to put pressure on the markets, Côte d'Ivoire and Ghana are suspending until further notice the sale of cocoa that will be harvested during the 2020-2021 campaign. You should know that 80% of the harvest is sold before the start of each campaign.

The stated objective is to better remunerate the producers. Today, in Côte d'Ivoire, the farm gate price set as an indication by the State at 750 CFA francs per kg this year is not respected.

It is actually more between 500 and 700 CFA francs per kg according to Kanga Koffi, president of the National Association of Cocoa Producers of Côte d'Ivoire, ANAPROCI. Kanga Koffi who is also very reserved on the outcome of the Accra discussions: “In general, the rise in prices remains between the buyer and the exporter. We are waiting to see what the real impact on the ground will be for producers. »

According to Kanga Koffi, taking into account the charges, official or unofficial, which weigh on Ivorian producers, a decent price would be around 1000 CFA francs per kg.