(4 minutes read)
· The price of cocoa paid to farmers for the 2020-21 harvest in Ivory Coast, the world’s largest producer, has been set at 1,000 CFA francs (Euro 1.52) as against 825 CFA francs per kilogram in the previous year. This will work out to an increase of 21%
· The announcement has come one month before the October 31 presidential election
· Cocoa contributes 10 to 15% of GDP and nearly 40% of export revenues come from Cocoa
· Ivory Coast produces nearly 40% of world’s cocoa population
The price of cocoa paid to farmers for the 2020-21 harvest in Ivory Coast, the world’s largest producer, has been set at 1,000 CFA francs (Euro 1.52) as against 825 CFA francs per kilogram in the previous year. This will work out to an increase of 21%.
Announcing this recently Ivorian President Alassane Ouattara said the increase would favorably impact a large number of farmers. It may be noted that the announcement has come one month before the October 31 presidential election.
President Ouattara was speaking at Yamoussoukro, the Ivorian capital, at the opening of the National Cocoa and Chocolate Days, which is the annual event that opens the great harvest season. The president was cheered by a large number of farmers assembled there at the event.
The price per kilogram of the crop paid to the farmers is fixed every year by the government. This year’s increase is sharp, which thent, they analysts attribute to the forthcoming election. The governme say, is trying to attract Cocoa farmers’ vote, which form a sizeable percentage of voters in the country.
Cocoa contributes 10 to 15% of GDP. Nearly 40% of export revenues come from Cocoa. It provides a living for five to six million people, or one-fifth of the population. The 2020-21 cocoa harvest is expected to remain at the same high level as last year, at 2.1 million tons. Ivory Coast produces nearly 40% of world’s cocoa population.
