Ivory Coast: Planters Hope for a Sharp Increase in Cocoa Prices
National Cocoa and Chocolate Days (JNCC): A key moment for the sector
The National Cocoa and Chocolate Days (JNCC), which end on September 30, 2024 in Abidjan, are a crucial meeting for cocoa professionals in Côte d’Ivoire. This fair brings together the sector that supports around six million Ivorians, or a quarter of the population of the world’s leading cocoa producer. The highlight of the event is the announcement of the guaranteed floor price per kilo of cocoa for the 2024/2025 season, in a context marked by rising world prices.
High expectations from planters
Cocoa producers from the country’s main producing regions are hoping for a significant increase in the minimum guaranteed price per kilo. This hope is fueled by the recent increase in the price of cocoa in Ghana, where the price has climbed by 45% to reach 1,800 CFA francs (2.74 euros) per kilo. Viviane N’Goran, a producer, expresses the common expectation of her profession: “We want a good price to escape poverty and to be able to support ourselves.” Several Ivorian parties and unions support this request by pleading for an exceptional increase in the minimum price.
The response of the authorities
The Minister of Agriculture, Kobenan Kouassi Adjoumani, remains cautious about producers’ expectations. He stresses that some demands are disconnected from market realities and the price-setting process. Yves Brahima Koné, Director General of the Coffee-Cocoa Council, calls on farmers to remain confident, assuring that the government is working in their favor: “We have never disappointed the farmers of Côte d’Ivoire. They will not be disappointed.”
In 2023, the guaranteed minimum price per kilo of cocoa was set at 1,000 CFA francs (1.52 euros), and in April 2024, it was adjusted to 1,500 CFA francs for the intermediate season, in response to the increase in prices on international markets.
Conclusion
Expectations among cocoa farmers in Côte d’Ivoire are particularly high this year, fueled by rising prices in neighboring Ghana. While authorities are stalling, setting the minimum price for the 2024/2025 season will be a decisive moment for the cocoa sector. A significant increase would improve farmers’ living conditions, but it will also have to be in line with global economic realities.
