Côte d'Ivoire cuts cocoa producer price by 57%, from 2,800 FCFA per kg to 1,200 FCFA per kg

The government of Côte d'Ivoire has reduced the farmgate price paid to cocoa farmers by about 57 percent, cutting it from 2,800 CFA francs per kilogram to 1,200 CFA francs for the mid-crop season running from March to August.

The announcement was made by Agriculture Minister Bruno Koné, who explained that the drastic reduction was necessary due to the sharp decline in global cocoa prices and mounting unsold stocks in the country.

According to the minister, international cocoa prices have dropped by nearly 70 percent since December, forcing authorities to adjust the guaranteed purchase price to keep the sector functioning. The new price of 1,200 CFA francs per kilogram is intended to help the government manage the crisis while still providing some support to farmers.

The West African nation, which is the world’s largest cocoa producer, accounts for roughly 45 percent of global cocoa supply and produces more than two million tonnes annually. Cocoa remains a critical pillar of the Ivorian economy, with millions of people depending on the crop for their livelihoods.

Authorities say the price adjustment is also aimed at clearing large volumes of unsold cocoa beans that have accumulated at warehouses and ports due to weak international demand and marketing difficulties.

Despite the significant reduction, the government indicated it would provide subsidies amounting to more than 231 billion CFA francs to cushion the impact on producers and stabilise the sector during the mid-season.

The move highlights the growing pressure facing cocoa-producing countries in West Africa, where volatile global prices continue to affect farmers’ incomes and the stability of the cocoa industry.