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Industry doubts remain over Ivory Coast, Ghana cocoa floor price

<b>Industry doubts remain over Ivory Coast, Ghana cocoa floor price</b>Ivory Coast and Ghana - the world's leading cocoa producers - failed on Wednesday to come to an agreement with the chocolate industry over how to introduce a new floor price for their exports.
Ivory Coast leads the world in production and export of the cocoa beans used in the manufacture of chocolate, as of 2012, supplying 33% of cocoa produced in the world.  Ivory Coast and Ghana decided in June this year they would fix a minimum price of $2,600 per tonne (free-on-board) that chocolate companies must pay from the 2020/21 season if they want to access their more than 60% share of global supply.


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Cathy Vikulchik 2019-10-10 at 05:14

It has become next to impossible for the 6 million people dependent on cocoa in Ivory Coast to survive on the money they receive for their crop.

From bean to bar in Ivory Coast, a country built on cocoa

On the eve of Fairtrade Fortnight, we meet the female farmers fighting for trade justice who face an uncertain future
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Cathy Vikulchik 2019-09-17 at 08:37

Chocolate's key ingredient, cocoa, is cultivated by some of the poorest people on the planet. While demand for cocoa is growing to the point that some experts warn companies may run out of affordable supplies within 20 years, the farmers who grow it earn a very tiny proportion of the price we pay at the grocery store --and their share has been dropping sharply over the past 35 years. Only 5% of the total Chocolate Bar value goes  to the cocoa origin country. 95% of the value is created and exported elsewhere. Average price of chocolate is about USD 10 per kg. Fixing the price of chocolate beans at USD 2,600 per tonne seems fair.

Real cost of a chocolate bar

Fixing the price of chocolate beans at USD 2,600 per tonne seems fair.
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