ABIDJAN, Ivory Coast – The Ivorian government has announced emergency market intervention measures to address a severe crisis in its cocoa sector, the world’s largest. With approximately 700,000 tons of cocoa beans remaining unsold due to plummeting global prices, authorities will purchase existing stocks at guaranteed seasonal rates to maintain export operations and ensure farmer compensation.
The crisis emerged in recent months as global cocoa prices sharply declined from record highs. According to Synapci, the nation’s primary cocoa farmers’ union, many agricultural producers have endured nearly two months without income, forcing some to sell at discounted rates or destroy spoiled inventory.
Agriculture Minister Kobenan Kouassi Adjoumani sought to reassure stakeholders during a Tuesday press briefing. “We want to reassure them. The situation is now under control, and collection operations will begin in the coming days,” he stated, confirming the government’s commitment to market stabilization.
Ivory Coast’s unique market structure differentiates it from most African nations. Through the Coffee and Cocoa Council, approximately 85% of the annual harvest (representing 2-2.5 million metric tons) is pre-sold at fixed prices to shield farmers from volatility. The current crisis involves the remaining 15% portion, which multinational buyers have refused to purchase following price declines.
The government had set a record price of $5,000 per metric ton in October 2025 ahead of presidential elections, but global prices have since fallen to approximately $4,630. With the mid-crop season price announcement scheduled for April 1 expected to reflect further decreases, market uncertainty persists.
Farmer representatives remain skeptical despite government assurances. Synapci President Moussa Koné questioned the implementation: “They are making nice promises, but what guarantees are they offering? And what about those who have already had to throw away cocoa that rotted because of the blockade?”