4 Min Read
ABIDJAN (Reuters) - Ivory Coast’s domestic cocoa traders association GNI has called for the regulator in the world’s top bean producer to introduce reforms that would end the dominance of six multinationals in handling the West African country’s cocoa exports. A worker sits near a pile of sacks of cocoa at a warehouse in Soubre, Ivory Coast January 8, 2021. REUTERS/Luc Gnago/File Photo
GNI, which represents 15 domestic cocoa companies with purchasing and export capacity of about 300,000 tonnes of beans a year, said in a Jan. 22 letter seen by Reuters that their survival depended on introducing the changes.
Local firms say Ivory Coast’s cocoa market distorted Domestic companies push for 30% of exports (Adds Sucden declines to comment)
ABIDJAN, Jan 26 (Reuters) - Ivory Coast’s domestic cocoa traders association GNI has called for the regulator in the world’s top bean producer to introduce reforms that would end the dominance of six multinationals in handling the West African country’s cocoa exports.
GNI, which represents 15 domestic cocoa companies with purchasing and export capacity of about 300,000 tonnes of beans a year, said in a Jan. 22 letter seen by Reuters that their survival depended on introducing the changes.
Ivory Coast’s cocoa industry is in turmoil. A bumper crop and sluggish global demand due to the coronavirus crisis has left hundreds of thousand of tonnes of unsold cocoa beans in the hands of farmers, cooperatives and small grinders.
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ABIDJAN Ivory Coast’s domestic cocoa traders association GNI has called for the regulator in the world’s top bean producer to introduce reforms that would end the dominance of six multinationals in handling the West African country’s cocoa exports.
GNI, which represents 15 domestic cocoa companies with purchasing and export capacity of about 300,000 tonnes of beans a year, said in a Jan. 22 letter seen by Reuters that their survival depended on introducing the changes.
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4 Min Read
ABIDJAN (Reuters) - Ivory Coast’s domestic cocoa traders association GNI has called for the regulator in the world’s top bean producer to introduce reforms that would end the dominance of six multinationals in handling the West African country’s cocoa exports. A worker sits near a pile of sacks of cocoa at a warehouse in Soubre, Ivory Coast January 8, 2021. REUTERS/Luc Gnago/File Photo
GNI, which represents 15 domestic cocoa companies with purchasing and export capacity of about 300,000 tonnes of beans a year, said in a Jan. 22 letter seen by Reuters that their survival depended on introducing the changes.