Ivorian President, Alassane Ouattara affirms commitment to $2,600/T cocoa floor price

The President of Ivory Coast Alassane Ouattara has given the strongest affirmation of his country’s resolution not to sell cocoa from the 2020/2021 crop from less than $2,600 per tonne.

President Alassane Ouattara said Ivory Coast has resolved to stick to a deal with Ghana to coordinate prices.

In a televised address President Ouattara said: “We will not sell the 2020/21 crop for below $2,600 pe4r tonne.”

He also gave an assurance that the cocoa farmgate price will return to the 2015 levels of 1,000 CFA francs per kilogramme from the current level of 750 CFA francs.

“We will raise the cocoa price on Oct. 1,” he said, in reference to the farmgate price.

The two West African neighbours, who are also the two top cocoa-producing countries joined forces in June to impose a floor price for cocoa of $2,600 per tonne and a live income differential (LID) of $400 per tonne.

Our newsletter gives you access to a curated selection of the most important stories daily.

Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more. Also join us across all of our other channels - we love to be connected!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job