Cote d’Ivoire : Arrivals of cocoa cargoes at ports soared 15% during the main season
(Ecofin Agency) - At the end of the main cocoa season (Oct. 1st 2016-March 31st 2017), arrivals of shipments at the ports of Abidjan and San Pedro combined stood at 1,403,000 metric tons of cocoa, thus a 15% increase compared to the volume recorded over the same period, a year before. This was revealed to Reuters by cocoa exporters.
Arrivals to exporting points increased significantly near March ending. Indeed, from March 27 to 31, ports received 8,000 tons of the beans, against 3,000 metric tons over the same the period, in 2016.
According to various experts, the high level of cargo arrivals could further increase over the coming months, driven by the government’s recent decision to cut registration taxes by 5%. This tax was, until the measure was decided, perceived from exporters upon loading. The government’s decision, the experts believe, could push operators to boost their activities by the end of the 2017 season. This in a context where Cote d’Ivoire’s production is expected to reach 1.9 million metric tons this season, thus about 170,000 metric tons more than the output recorded during the 2014-15 season which in itself was already a record.