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.
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