Ivory Coast Moves to Buy Entire Cocoa Stockpile

Ivory Coast has announced plans to purchase the entire stockpile of cocoa beans held by cooperatives across the country, in a bid to protect producers from mounting losses as global prices tumble.

The government’s intervention comes at a time when cocoa prices have dropped to their lowest level in two years, leaving thousands of farmers and cooperatives struggling to sell their beans. Agriculture Minister Kobenan Kouassi Adjoumani said on Tuesday that the move is designed to ensure producers are paid and to stabilise the sector.

“The chosen strategy is simple and effective,” the Minister explained. “The government will primarily rely on credible, solid and structured national operators, who will conduct purchasing and collection operations in collaboration with their traditional partners, notably shredders, multinationals and international exporters.”

Cocoa is the backbone of Ivory Coast’s economy, accounting for about 14 percent of the country’s GDP. The West African nation is the world’s largest cocoa producer, and one in five Ivorians depends directly on the industry for their livelihood. However, slowing exports have left stocks piling up, creating financial strain for cooperatives and farmers.

In recent months, cocoa prices have fallen by roughly $5 per kilo, eroding incomes and threatening the sustainability of the sector. The decline follows a surge in prices in late 2024, which prompted manufacturers to cut back on chocolate production and reduce imports. As a result, exports to key markets in Europe and Asia have dropped significantly.

The government’s decision to step in is seen as a critical measure to safeguard the livelihoods of farmers and maintain confidence in the industry. By purchasing the stockpile, authorities hope to ease the financial burden on cooperatives, prevent beans from going to waste, and stabilise the domestic market.

Officials also believe the intervention will help maintain Ivory Coast’s reputation as a reliable supplier in the global cocoa trade, even as international demand fluctuates. The partnership with national operators and established exporters is expected to ensure that the beans are absorbed into the supply chain efficiently.

For many Ivorians, the announcement offers a measure of relief in uncertain times. With millions relying on cocoa for income, the government’s move underscores the sector’s importance not only to the economy but also to the social fabric of the country.