Coffee and Cocoa Council - The African Mirror

Feb

2024

Ivory Coast seizes 100 tons of cocoa at the border with Guinea

IVORY Coast's Coffee and Cocoa Council (CCC) has helped the national police to seize three trucks loaded with 1,500 bags of cocoa beans on the border with Guinea, the regulator's managing director said. Low farmgate prices compared with neighbouring countries have made the West African nation, the world's top producer of the main ingredient in chocolate, a target for smugglers from neighbouring Liberia and Guinea where beans fetch higher prices. A kilogram of cocoa currently costs between 1,600 CFA francs and 1,700 CFA francs ($2.63-$2.80) in Guinea and Liberia due to the rise in global prices, according to cooperatives and…

Oct

2023

By Ange Aboa

Ivory Coast cocoa regulator scraps stockpile exemption for bean grinders

BUSINESS

IVORY Coast cocoa sector regulator will not allow bean grinders to accumulate stocks beyond authorised limits during the main October to March harvest to ensure fair access amid fears of a supply shortage. Cocoa futures have hit record highs due to forecasts for a drop in production, particularly from Ivory Coast and Ghana, the world's top two producers that account for more than 70% of world output. Ivory Coast's main crop is expected to fall by around 25% this season compared with the previous season due to poor weather. Ivory Coast cocoa exporters and bean grinders have a purchasing limit each year…

Dec

2020

By The African Mirror

Ivory Coast to lift suspension of Hershey cocoa sustainability scheme

BUSINESS

ANGE ABOA IVORY Coast will lift a suspension on cocoa sustainability schemes run by U.S.-based Hershey on its territory that it imposed earlier this week, according to a letter addressed to the chocolate maker and seen by Reuters. On Monday, Ivorian and Ghanaian cocoa regulators suspended the schemes, accusing Hershey of sourcing large volumes of physical cocoa on the ICE futures exchange to avoid paying a premium aimed at combating farmer poverty, known as a living income differential (LID). Hershey, makers of such popular candy items as Hershey chocolate bars, Hershey's Kisses and Kit Kat, said it was fully participating…