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Ivorian and Ghanaian cocoa group denounces pushback on futures contract price

Ivorian and Ghanaian cocoa group denounces pushback on futures contract price
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Ivory Coast struggles to sell cocoa amid dispute over farmer premium

3 Min Read ABIDJAN, Dec 1 (Reuters) - Ivory Coast has not sold up to 15% of cocoa from its ongoing main crop, while the vast majority of the upcoming mid-crop remains unsold as the COVID-19 pandemic drives down chocolate demand, four industry and regulatory sources said on Tuesday. The performance is the worst in decades for the world’s top cocoa producer and comes amid an escalating standoff with industry buyers over a premium aimed at combating farmer poverty. Ivory Coast normally sells export contracts for all of its main crop and 30-40% of its mid-crop before the season begins in October. The last time the country did not sell all of its harvest was the 1988/89 season.

Coted ivoireIvory coastAaron rossThomson reuters trust principlesCocoa councilIvorian coffeeAnge aboaThomson reuters trustதந்தம் கடற்கரைஆரோன் ரோஸ்தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ்கோகோ சபைதாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை