Ivory Coast's Cocoa Export Resurgence: A New Trade Agreement Unlocks Mid Crop Sales
Ivory Coast's Coffee and Cocoa Council alongside export group GEPEX have reached an agreement facilitating resumed cocoa exports, known as release purchases, for the mid crop. The deal has resulted in over 200,000 tons of release contracts being secured, significantly increasing sales from earlier figures.
In a pivotal move for Ivory Coast's cocoa sector, the Coffee and Cocoa Council has reached a landmark agreement with the cocoa exporters' group GEPEX, enabling the resumption of export contracts for the mid crop.
The newly forged agreement has already stimulated significant market activity, with over 200,000 tons of cocoa release contracts being acquired in recent days, according to industry insiders, including exporters and government officials.
Before the deal, only 10,000 tons had been traded from October to February. GEPEX, representing global giants such as Cargill, Olam, and Barry Callebaut, plays a crucial role in this export dynamic.
Advertisement
Google News