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Côte d'Ivoire-Ghana: Threat on the floor price of cocoa, the Council denounces a “conspiracy” by chocolate manufacturers who refuse to apply the “DRD”

25/11/2020
Source : koaci.com
Categories: Index/Markets

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In a note consulted by KOACI on Wednesday, November 18, 2020, the president of the Café-Cacao Council (CCC), Koné Ibrahim Yves, protests to the president of WCF, Rick Scobey, against non-compliance with the provisions adopted as part of the application of the Decent Income Differential (DRD).


And yet, at the occasion of the WCF Partnership Meeting held in Berlin, all companies, members of WCF, openly announced their individual support and commitment to the application of DRD

.


A few months after the entry into force of the application of the DRD, as agreed, the CCC notes that customers, and more particularly chocolatiers, under the pretext of the occurrence of COVID-19, are reluctant to pay the DRD by refusing to take out contracts originally for the two countries,

Côte d'Ivoire and Ghana.

According to Mr. Koné Ibrahim, one of the biggest chocolate makers had decided to buy cocoa with the stock market, thus signaling his opposition to the DRD.



“In analysis, and this is our responsibility, this is a conspiracy to defeat the concept of the fixed price as conceived, and therefore not to grant a remunerative price to all cocoa producers in our countries”, notes the president of the Cocoa Council, before threatening and publicly denouncing the proven refusal of the actors concerned to offer cocoa farmers a

decent income.


In 2019, Côte d'Ivoire and Ghana managed to obtain the agreement of the world chocolate giants in Berlin, during the World Cocoa Foundation meetings, to purchase a surplus of 400 dollars per ton of cocoa for the 2020-2021 harvest, which will leave the plantations in October

2020.


The measure consisted of adding a decent income differential (DRD) of $400 per ton and the introduction of a floor price of $2,600 per ton

.
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