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Cocoa sectors: The six multinationals of Côte d'Ivoire set their conditions

25/02/2021
Source : ORISHAS FINANCE
Categories: Sectors

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Nearly 100,000 tons of beans bought by small local exporters in a kind of arrangement to store without a taker. The multinationals established in Côte d'Ivoire decide to come to the rescue of these Ivorian exporters but do not fail to set their conditions. The battle for the application of the Decent Income Differential (DRD) supported by the Cocoa Coffee Council (CCC) of Côte d'Ivoire and the Cocoa Bords of Ghana seems to be lost in advance. Despite the CCC's efforts to allow producers to evacuate their beans through Ivorian exporters, tons of cocoa are unsold. An exporter is prohibited from purchasing cocoa beans without export contracts and without consideration. But the CCC did not apply this rule to allow planters to sell the stocks they had between December and February. As a result, the multinationals hold, especially since they refuse to buy at the same price these 100,000 tons held by Ivorian exporters and stored in the ports of San Pedro and Abidjan. "The regulator is facing the demands of multinationals who claim a differential of -£350 to -£400 per tonne for these volumes in the hands of the locals, an additional discount of 150 to 200 FCFA / kg, compared to the price they pay for cocoa loaded by their Ivorian subsidiaries," reports the CCC. The wish of the actors is that on each export contract of multinationals established in Côte d'Ivoire, 20% be allocated to local exporters to promote the emergence and emancipation of local exporters and allow direct access to chocolatiers and industrialists.
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