Ivory Coast, the world’s leading cocoa producer, has announced a sharp cut in the price paid to its growers, reducing it by nearly 60 percent in response to a global sales slump and falling international prices.
Agriculture Minister Bruno Kone revealed on Wednesday that the government had set the new producer price at 1,200 CFA francs per kilo ($2, €1.82), down from the record high of 2,800 CFA francs per kilo announced in October 2025.
“The price of cocoa on the international market is forcing us to make an adjustment,” Kone said, noting that the announcement came a month earlier than the usual biannual review.
Cocoa Sector Under Pressure
Cocoa is central to Ivory Coast’s economy, accounting for 14 percent of GDP and supporting around five million livelihoods. However, global cocoa prices, which surged to $12,000 per tonne in late 2024, have since plunged to about $2,900 per tonne, leaving Ivorian cocoa significantly out of step with world market rates.
The mismatch has led exporters to delay purchases, while some buyers have offered lower prices in exchange for immediate payment. In January, the Coffee Cocoa Council intervened by buying tens of thousands of tonnes at the record price to ease the burden on producers.
Growers Voice Disappointment
Trade unionist Yao Yao, based in Duekoue, expressed frustration at the government’s decision, saying growers would bear the brunt of the adjustment.
“Honestly, we’re not happy. We, the growers, are the ones who are going to lose out in this situation,” he told AFP.
Regional Context
Ivory Coast’s move follows a similar decision by neighboring Ghana, the world’s second-largest cocoa producer, which cut its producer prices by 30 percent in mid-February. Both countries are grappling with the effects of oversupply and declining global demand, underscoring the vulnerability of West Africa’s cocoa-dependent economies.
