Ivory Coast Shakes Up Cocoa Industry with New Mid-Crop Strategy

Ivory Coast is rewriting the rules of its cocoa industry by advancing the start of its mid-crop season, a first-ever move, aimed at tackling excessive stock by sharply lowering the price paid to farmers. Insiders from both government and regulatory sources revealed this strategic shift to Reuters.

This bold decision is driven by a need to mitigate a crisis facing the world's top cocoa producer, as global price slumps have rendered Ivorian cocoa uncompetitive, leaving numerous cocoa bags unsold at both inland locations and ports.

Under this new categorization, cocoa produced next month will fall under the mid-crop umbrella with prices set between 800 and 1,000 CFA francs per kilogram, a significant drop from the main crop price of 2,800 CFA francs, aiming to boost sales and clear the backlog.