(Ecofin Agency) - Ivorian Coffee-Cocoa Council (CCC) has so far sold 1.1 million tons worth of cocoa export contracts for the 2019-19 marketing season, two CCC senior officials told Reuters.

The regulator’s strategy is to liquidate contracts related to a 1.3-1.4 million tons total volume of beans before the next marketing year according to the the said source.

Reuters revealed that the agreed purchase price could enable the regulator to increase the farm gate price to CFA1, 000/kg in 2018/2019 which represents an increase from the current CFA700/kg.

Let’s recall that the country exported 1.6 million tons of cocoa as of 13 May, slightly down by 4% compared to the same period the previous year, according to the International Cocoa Organization (ICCO).

Espoir Olodo