Ivory Coast has stopped selling contracts for cocoa exports for the 2023-2024 season after heavy rains battered and flooded farms in the world's top cocoa-producing nation in recent weeks, the head of the country's cocoa sector regulator told Reuters. With cocoa prices currently at record levels due to concerns over supplies, the suspension of sales will come as a blow to the country which the United Nations says is reliant on cocoa for 40% of its export earnings. Yves Brahima Kone, director general of the Coffee and Cocoa Council (CCC) said sales before the suspension had exceeded one million tonnes.
Ivory Coast has stopped selling contracts for cocoa exports for the 2023-2024 season after heavy rains battered and flooded farms in the world's top cocoa-producing nation in recent weeks, the head of the country's cocoa sector regulator told Reuters.
A mix of above-average rain
and sunshine in most of Ivory Coast s main cocoa regions last
week bodes well for the October-to-March main crop, farmers said
on Monday. The world s top.
Above-average rain in most of Ivory Coast's cocoa regions last week has flooded plantations and could affect the start of the next October-to-March main crop, farmers said on Monday.