Ghana, Ivory Coast cocoa floor price [Business Africa]

Côte d’Ivoire and Ghana set up new cocoa sales mechanism as the world’s largest producers strive to establish themselves on the cocoa market.

The two largest cocoa producers in the world, Ghana and Côte d’Ivoire, have decided to provide a remunerative price to producers to enable them have a decent income

The decision comes after these countries suspended the sale of the 2020/2021 crops for trade imbalance with the world cocoa industry. The new mechanism should allow a differential of $400 per tonne.

Raphael Dapaah, cocoa farmer and founder of Dapaah chocolates based in London, United Kingdom, gives us more insights on this.