Ivory Coast to cut cocoa farmgate prices amid rising unsold stocks
Price cut aims to ease surplus as global cocoa prices plunge 50% this year.
IVORY COAST – Ivory Coast plans to sharply reduce the price it pays cocoa farmers to between 800 and 1,000 CFA francs per kilogram as part of measures to address mounting unsold stock, according to a report by Reuters.
Under the new arrangement, cocoa produced in March will be classified under the mid-crop season instead of the main crop. This marks the first time the world’s largest cocoa producer has brought forward the start of its mid-crop season.
Farmers will receive between 800 and 1,000 CFA francs ($1.45–$1.81) per kilogram, significantly lower than the current main crop price of 2,800 CFA francs per kilogram.
Ivorian government officials said the measure is designed to stimulate sales and ease pressure from excess supply following a downturn in global cocoa prices.
According to Reuters, the slump has made Ivorian cocoa comparatively expensive, resulting in unsold bags piling up inland and at ports in recent months.
Government and regulatory sources told Reuters that the pricing adjustment is intended to boost sales and reduce the burden of surplus stock.
The decision comes as the country grapples with a growing surplus caused by weakening international demand and falling prices.
Exports of raw cocoa beans from Ivory Coast slipped to 1.011 million metric tons by February 20, according to two government officials and a source at the Coffee and Cocoa Council (CCC).
The figure was slightly below exports over the same period last year, which reached 1.040 million metric tons, the sources said.
While cocoa arrivals at ports have slowed in recent weeks due to declining prices, exports have remained relatively steady, officials added.
The development follows a similar move by Ghana, which recently reduced its cocoa producer price to GH¢41,392 per tonne — equivalent to GH¢2,587 per bag — for the remainder of the 2025/2026 crop season.
Ivory Coast and Ghana together account for about 50% of global cocoa production. World cocoa prices have plunged roughly 50% this year, hitting a near three-year low earlier this week as stocks continued to accumulate at ports.
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