(Ecofin Agency) - In Côte d’Ivoire, between 200,000 and 250,000 tons of the cocoa harvest for the main 2020-21 campaign (12.5-15% of total volume) is still unsold. This is the worst marketing performance since 1988-89.

According to Reuters, which quotes sources close to the Coffee-Cocoa Council (CCC), this record weak result is due to the lack of enthusiasm by traders and grinders for the payment of the decent income differential (DRD) of $400 set for every ton of cocoa.

While these actors of the sector traditionally purchase and store the beans for later delivery, the additional costs associated with the DRD have led many companies to look to other suppliers.

“Chocolate makers could pay less for cocoa elsewhere in countries such as Ecuador, Brazil, Nigeria, and Cameroon," said the director of an export company operating in Côte d'Ivoire.

It should be noted that the difficulties in selling the main crop add to the challenge already faced by the authorities concerning the small-scale trade, where 90 to 95% of export contracts are not yet sold.

Regarding the forecasts for 2020-21, Côte d'Ivoire is expected to produce 1.6 million tons of cocoa during the main season and 500,000 tons of beans during the intermediate season from April to September 2021.

 Espoir Olodo