The Coffee-Cocoa Council (CCC) is reducing the cost of purchasing cocoa in order to better boost sales for the 2020/2021 campaign.

Faced with the accumulation of stocks in the production zones, the authorities of the sector are revising downwards the requirements weighing on exporters to stimulate marketing. The CCC has made concessions on several components of the cost of acquisition of cocoa by exporters.
Reuters informs that the authorities abolished last January the premium for the quality of beans amounting to 70 pounds per ton and ratified a discount of 250 pounds on the ton of cocoa sold within the framework of the small draft from April to September .
The approach would have already given a boost to foreign marketing, which had been idling for several months with the reluctance of exporters. Some players claim that the reduction made by the authorities cancels out the gain of $400 on a ton of cocoa, applied as part of the living income differential (DRD) during the 2020/2021 campaign.
It should be recalled that cocoa sales for the intermediate season jumped from 180,000 tonnes at the beginning of January to 460,000 tonnes last week, those of the main season reached 1.6 million tonnes during the same week against 1.45 million tons at the end of December.