Ivory Coast reduces cocoa farmgate prices by nearly 60% as falling global markets and slowing exports force government intervention in the world’s largest cocoa-producing nation.
Price cut aims to ease surplus as global cocoa prices plunge 50% this year.
Unsold cocoa stocks surge as Brazil halts imports pending guarantees from Abidjan.
Government reviewing pricing policies as cocoa futures hit multi-year lows and farmers face rising financial pressure.
Ivory Coast moves to absorb surplus cocoa and protect farmers as global prices fall and border inflows swell domestic supplies.