Ivory Coast Slashes Cocoa Producer Price by Nearly 60%
Last update: March 4, 2026
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Government cites falling global prices and oversupply as sector faces downturn.
Ivory Coast, the world’s leading cocoa producer, on Wednesday reduced the price paid to its growers by nearly 60 percent, the government said, as it seeks to respond to a slowdown in sales affecting the sector.
Agriculture Minister Bruno Kone announced that the price would be cut to 1,200 CFA francs per kilogram, equivalent to about two dollars or 1.82 euros. The move comes amid a decline in global cocoa prices and an oversupply crisis.
“The price of cocoa on the international market is forcing us to make an adjustment,” Kone said.
The Ivorian government sets the price paid to cocoa producers twice a year. This latest announcement was made about a month earlier than usual.
Cocoa accounts for roughly 14 percent of the country’s gross domestic product, and around five million people rely on the sector for their livelihoods.
In October, shortly before an election won by President Alassane Ouattara, authorities had set the farmgate price at a record 2,800 CFA francs per kilogram.
However, after soaring to record levels in 2024 and beginning to ease in 2025, global cocoa prices have dropped sharply this year. As a result, Ivorian cocoa has recently been priced well above prevailing international market rates.
