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

August 9, 2019 3:25 PM

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.