Ivory Coast Reassures Farmers Over Cocoa Stock Purchases Amid Strike Threats
Ivory Coast has moved to calm tensions among cocoa farmers by reaffirming its commitment to buy excess cocoa stocks at the guaranteed price, despite fears the programme could be halted.
The government launched the stock buying initiative in late January to clear unsold beans and provide cash to farmers after global cocoa prices slumped. The plan covers a residual stock of 100,000 metric tons, with purchases made at the guaranteed price of 2,800 CFA francs ($5.00) per kilogram.
So far, around 23,000 tons have been purchased, according to data from the Agricultural Interprofessional Organisation for Cocoa. Farmers had grown worried that the programme might end prematurely as the mid crop harvest begins earlier than usual.
On Tuesday, Siaka Diakite, president of the Agricultural Interprofessional Organisation for Cocoa, sought to reassure farmers and cooperatives. “The government has given us guarantees that the programme will continue and that all the stock inventoried by the Coffee and Cocoa Council in January will be fully purchased,” he told journalists in Abidjan.
The announcement comes amid growing frustration among farmers, who had threatened to strike if the programme was suspended. Some cooperatives in Duekoue and San Pedro warned they would park trucks loaded with cocoa outside regional administrative offices in protest.
Adding to the tension are reports that authorities may cut the farmgate price for the mid crop harvest to between 800 and 1,000 CFA francs per kilogram. That would be a sharp drop from the 2,800 CFA francs offered during the main crop season. Government and regulator sources told Reuters last week that such a move was under consideration, sparking anger among producers who already face financial strain.
On Monday, Diakite criticized what he described as administrative blockages by the Coffee and Cocoa Council. He said the council had refused to validate bills of lading, preventing cooperatives from delivering cocoa to Abidjan.
Ivory Coast is the world’s largest cocoa producer, and stability in its sector is crucial for both farmers and the global chocolate industry. The government’s reassurances are aimed at preventing unrest and ensuring farmers receive fair compensation for their crops.
For now, the promise to continue buying the remaining stock at the guaranteed price has eased immediate concerns. But with farmgate prices under review and frustrations mounting, the coming weeks will be critical in determining whether tensions subside or escalate into strikes.
