The price of cocoa for the 2023-2024 campaign in Ivory Coast has caused some disappointment among local producers. Set at 1,000 CFA francs per kilo, or 1.52 euros, this increase is lower than the expectations of those involved in the sector. While international cocoa prices have increased considerably during 2023, the Ivorian Platform for Sustainable Cocoa had advocated for a minimum price of 1,300 CFA francs per kilo. The objective was to support local producers and reduce the risk of cocoa beans leaking to neighboring countries.
Many cocoa producers expressed their disappointment during the launch of the new campaign at the Abidjan International Agricultural and Animal Resources Show. Although grateful for the 100 CFA franc increase, some were hoping for a more significant increase. Production costs being high, with 80% of the purchase price absorbed by the latter, the margins on a kilo of cocoa remain minimal. The Ivorian Platform for Sustainable Cocoa estimates that the farm gate price should represent at least 70% of the international price in order to guarantee the viability of the industry.
The pressure on farmers is even greater today as they also have to comply with traceability standards, which generates additional costs. Traceability is essential for the sustainability of the cocoa sector, but producers need financial support to implement it effectively. In the current context, where international prices are high, it is essential to ensure fair remuneration for producers in order to encourage them to stay in the sector and limit the risks of cocoa beans leaking to other countries.
To guarantee the sustainability of the cocoa sector in Côte d’Ivoire, it is also important to strengthen governance within cooperatives in order to ensure transparent and equitable management of income generated by the sale of cocoa.
Some producers have chosen to engage in direct contracts with end buyers, such as cocoa processors and supermarkets, with the aim of shortening the marketing chain and thus obtaining better remuneration.
In conclusion, although the price of cocoa for the new campaign in Côte d’Ivoire has seen a slight increase, it remains below the expectations of local producers. Fair and transparent remuneration is essential to ensure the viability of the cocoa sector and limit the risks of beans leaking to other countries. It is also necessary to financially support producers in the implementation of traceability standards to guarantee a sustainable and responsible sector.