(Ecofin Agency) - In Côte d’Ivoire, cocoa farm gate price has been set to CFA750 per kilogram for the 2018/2019 main campaign that was launched yesterday. This basis price that represents a slight increase by CFA50 compared to last season was announced by Lambert Kouassi Konan (photo), president of the coffee-cocoa council.
Thanks to that increase, Côte d’Ivoire should reduce the price gap with neighboring Ghana which set its cocoa 2018/2019 farm gate price at 7,600 cedis per ton.
For the new cocoa campaign, the two countries expressed their will to mutualize their efforts to make a better use of the cocoa value chain and coordinate their sales by end January 2019.
According to Bloomberg, Côte d’Ivoire's cocoa production should reach 2 million tons during the 2018/2019 season.
It is also worth reminding that the sector’s regulator granted exports licenses to 68 cooperative and trade companies for the said season against 72, a year earlier.