Home News Finance Cote d’Ivoire Cocoa Farmers Demand Higher Pay from Government
FinanceNews

Cote d’Ivoire Cocoa Farmers Demand Higher Pay from Government

747

Cote d’Ivoire cocoa farmers have demanded higher pay from government amid an increase in the farmgate price for cocoa. The government increased the price to 1,800 CFA francs ($3.09) per kilogram for the 2024/25 season, marking a 20 per cent increase from last year.

The new price was announced by Agriculture Minister Kobenan Kouassi Adjoumani on Monday, and is all-time high. Despite this, farmers in Cote d’Ivoire earn far less than the global market price. They are demanding a fairer share of the global profits and urging the government to honour its promise of setting the cocoa price at 60 per cent of the CIF (cost, insurance, freight) price. This would bring the farmgate price to around 5,000 CFA francs per kilogram.

Cote d’Ivoire has also issued export licenses to 106 companies and cooperatives for the 2024/25 season. This is up from 92 licenses last season. Major international traders, including Olam, Nestle, and Cargill, are among those approved by the Coffee and Cocoa Council (CCC) to export cocoa this season.

Read More:

About The Author

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Human RightsNewsWorld

U.S. Senate Bill Seeks to Sanction Nigerian Officials Over Blasphemy Laws

A new bill pending in the United States Senate is seeking to...

NewsSports

How Nigeria Snatched World Cup Playoff Spot Despite Fewer Raw Points

The Super Eagles’ qualification for the 2026 FIFA World Cup playoffs sent...

NewsSports

Traoré Demands Answers After Burkina Faso Miss Out on Playoff Spot to Nigeria

Burkina Faso President, Captain Ibrahim Traoré, has publicly sought explanations following his...

NewsWorld

Mali, Founding Member of NAM, Reaffirms Role at Kampala Ministerial Conference

Mali Foreign Affairs and International Cooperation Minister Abdoulaye Diop took part, on...