Ivory Coast Raises Cocoa Farmers' Pay Amid Surging Futures

By
Kwame Agyei-Yeboah
1 min read

Ivory Coast has agreed to increase the pay for cocoa farmers, in response to the surge in futures prices exceeding $10,000 a ton. The world's leading producer of cocoa will pay 1,500 CFA francs ($2.46) per kilogram for the upcoming mid-crop harvest until September 30, marking a significant 50% rise from the payments made during the recent main-crop season. This decision was announced by Minister of Agriculture Kobenan Kouassi Adjoumani in Abidjan. The move comes as a response to the escalating costs and demands in the industry, aiming to support cocoa farmers in the region amidst the price volatility.

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