The government of Côte d’Ivoire has announced a sharp reduction in the price paid to cocoa farmers, cutting it by nearly 60 percent as the global market faces a significant downturn.
Officials said the decision is aimed at addressing a major sales slump affecting the country’s critical cocoa sector, which remains one of the pillars of the national economy.
Agriculture Minister Bruno Kone confirmed that the new producer price has been set at 1,200 CFA francs per kilogram, roughly two US dollars.
According to the minister, the reduction followed a significant drop in global cocoa prices and an oversupply in the international market.
Kone explained that falling international prices forced the government to adjust payments to farmers to reflect the new global market realities.
As the world’s largest cocoa producer, Côte d’Ivoire regularly reviews and sets the price paid to growers twice each year.
However, this latest announcement came earlier than usual as authorities responded quickly to the rapidly changing conditions in the global cocoa trade.
Officials said the early decision aims to stabilise the sector and prevent further disruption in cocoa sales.
Cocoa Sector Remains Crucial to the Economy
The cocoa industry plays a major role in the country’s economic stability.
It contributes about 14 percent of Côte d’Ivoire’s Gross Domestic Product (GDP), while nearly five million people depend on cocoa farming and related activities for their livelihoods.
Because of this heavy reliance, any shift in global cocoa prices has a direct impact on farmers, rural communities, and the broader national economy.
Record Cocoa Price Last Year
Just last October, shortly before elections won by President Alassane Ouattara, the government set a record producer price of 2,800 CFA francs per kilogram.
At the time, global cocoa prices had surged significantly in 2024, creating strong earnings for farmers.
However, the market began to weaken in 2025, and prices have dropped sharply this year due to global oversupply and declining demand.
Farmers Face Impact of Global Cocoa Price Drop
Minister Kone acknowledged that farmers had hoped for a better price.
However, he stressed that the government had little choice but to respond to the realities of the international market.
According to him, the adjustment reflects the downward trend in global cocoa prices and is necessary to maintain stability in the sector.
