Ivory Coast Slashes Grower Price by 60% as Global Cocoa Prices Collapse
Ivory Coast has slashed the price paid to cocoa growers by nearly 60 percent, responding to a dramatic plunge in world market prices. Agriculture Minister Bruno Kone announced the reduction to 1,200 CFA francs per kilo, down from a record high of 2,800 CFA francs set just months earlier. The adjustment comes as global cocoa prices have collapsed from $12,000 per tonne in late 2024 to currently $2,900, leaving Ivorian cocoa uncompetitive internationally. T
he sector, representing 14 percent of GDP and supporting five million livelihoods, faces hardship as exporters delayed purchases. Growers expressed disappointment, with unionist Yao Yao noting producers “are the ones who are going to lose out.” The move follows Ghana’s similar 30 percent price cut in February.
