Ivory Coast changes regulation of cocoa sector

14/10/2014,

Ivory Coast, the world leading producer of cocoa, has increased the support guaranteed minimum farm gate price for the main marketing season 2014/15 (October/March) to 850FCFA/KG from 750FCFA in the previous season. This measure aims at raising incomes of farmers for whom cocoa is the main cash crop. New regulations on the cocoa sector also include a limit of 110 000 tonnes on the purchase of beans by exporters during the ongoing main crop harvest and stricter quality standards to improve marketing of Ivorian cocoa at global level.