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Now the Ivory Coast Cocoa Regulator weights in...... https://lnkd.in/gtDSFF_5 ENGLISH TRANSLATION OF THIS ARTICLE The Coffee-Cocoa Council, the body responsible for regulating the Coffee-Cocoa sector in Ivory Coast, denounced in an information note received on Tuesday in Abidjan.net, the overpayment of cocoa at the entrance of the factories of certain approved exporters.“It has been observed for some time that approved exporters practice overpayment for cocoa at the entrance to their factories.The Coffee-Cocoa Council would like to point out that overpayment for cocoa at the entrance to factories is prohibited,” reports this note from the Coffee-Cocoa Council addressed to exporters, processors, cooperative societies and cocoa buyers.Furthermore, the regulator indicated that in accordance with the provisions of article 18 of decree No. 2012-1008 of October 17, 2012, setting the terms of marketing of coffee and cocoa, "Any contravention of this provision is liable to payment a penalty of10% of the value of the product concerned for the benefit of the coffee-cocoa council and the withdrawal of its approval in the event of a repeat offense. Furthermore, the coffee-cocoa council reminded cooperative societies and buyers that their stocks must be transferredto exporters within a maximum period of 21 days after their acquisitions. Failure to comply with this measure, warned the regulator, exposes the offender to the seizure of their stocks and the suspension of their access to purchasing systems. Previously, the note noted that themain 2023-2024 campaign is marked by a drop in cocoa production in high proportions compared to the five previous seasons.

*BREAKING NEWS* THE IVORIAN COCOA BOARD IS PLANNING TO ELIMINATE THE FARMING ORGANIZATIONS FROM THE SUPPLY CHAIN AND COCOA SALES SYSTEM IN IVORY COAST Faced with the growing demands of farmers who are demanding better marketing conditions for their cocoa, the Ivorian Cocoa Board of Côte d'Ivoire is planning the elimination of the Ivorian cooperatives which represent them to regain total control of domestic marketing and become the exclusive buyer of cocoa, at a low price, from helpless farmers. https://lnkd.in/ebwxeTrd

Cocoa: the producer price breaks a new record in Cameroon at more than 3,000 FCFA per kg, thanks to group sales Between February 15 and 19, 2024, cocoa producers in the localities of Makénéné, in the Center region, Kékem, in the West, and Batschenga, in the Center, respectively sold their cocoa beans. cocoa to buyers at prices of 3,100 FCFA, 3,360 FCFA and 3,300 FCFA per kilogram. “  If we refer to previous campaigns, the producer price will have been multiplied by three, i.e. an upward trend of 200%, far higher than that of inflation in our country  ”, is satisfied the minister of Commerce, Luc Magloire Mbarga Atangana, in a press release signed on February 20, 2024. According to this member of the government, “these latest developments, particularly favorable and promising  ”, occurred during the traditional group sales operations coordinated by his ministerial department. Also, with the benefits of this sales strategy, the minister invites producers “  to always be more disciplined and rigorous in the way they market their cocoa, by favoring group sales, in a process of transparency and of open competition  . Group sales are cocoa auctions, organized by producer cooperatives who come together to be able to gather a large volume to offer to buyers. These sales, which bring together several buyers, are generally supervised by the Ministry of Commerce and industry players, who guarantee transparency. The highest bidder wins the cargo put up for sale during these operations, which have the particularity of boosting the negotiating abilities of producers with buyers. But, beyond this marketing method, which contributes to raising producer prices, the improvement in the prices of the brick red bean from Cameroon, since the launch of the 2023-2024 cocoa campaign, can also be explained by strong demand. Better, through the battle waged by exporters and local processors for control of the increasingly insufficient bean. Indeed, while exporters generally affiliated with large international traders continue to make massive purchases, the country has seen, in less than 3 years, three new crushers arrive on the local processing market (Altantic Cocoa and Neo Industry, Africa Processing) with capacities of around 100,000 tonnes. Some of these operators do not hesitate to raise the stakes to acquire the beans, in order to keep their factories running, which are often at a standstill due to lack of raw material.

https://lnkd.in/eapwth3P MINISTRY IN THE SPOTLIGHT05-04-2024 MINISTRY OF STATE, MINISTER OF AGRICULTURE, RURAL DEVELOPMENT AND FOOD PRODUCTION: INTERMEDIATE COCOA MARKETING CAMPAIGN: THE GUARANTEED FIELD PRICE FIXED AT 1,500 FCFA PER KILOGRAM Abidjan, April 2, 2024 – For the 2023-2024 intermediate marketing campaign, the State of Côte d'Ivoire has set the guaranteed farm gate price of cocoa at 1,500 FCFA per kilogram. The information was made public by the Minister of State, Minister of Agriculture, Rural Development and Food Production, Kobenan Kouassi Adjoumani, during a press conference on Monday April 2, 2024 in Abidjan. “We inform you that for the intermediate campaign, the result of sales in anticipation of the harvest for the period from April to September 2024 made it possible to achieve an average CIF price of 2,326 FCFA per kilogram. On this basis, the State of Côte d'Ivoire decided to set the producer price at 1,500 FCFA per kilogram, or 64% of the CIF production price,” declared Kobenan Kouassi Adjoumani.

#Confectionery industry under pressure as cocoa prices rise and #Ghana sees economic recovery The global #agricultural market is currently experiencing stability, with investors anticipating the Federal Reserve's interest rate decision, amidst concerns over rising cocoa prices in the chocolate #industry. #Cocoa prices have seen a significant increase over the past year, peaking at an all-time high in April 2024, before a 34% decrease due to forecasts of better weather conditions in #West #Africa, the main cocoa production region. Despite this decrease, volatility in the cocoa market continues to pose a threat to #chocolate manufacturers, impacting #profit margins and increasing #costs, especially for small producers and independent brands. In West Africa, Ghana is experiencing economic recovery with a growth rate of 6.9% in Q2 2024, primarily driven by the natural resource extraction sectors. However, the cocoa sector is contracting due to crop diseases and adverse weather conditions, which is negatively affecting the country's trade balance. Despite these challenges, there are expectations of market stabilization with the recovery of #harvests, although uncertainty remains due to climate and phytosanitary risks, as well as the influence of global monetary policies on international trade and consumer purchasing power. https://lnkd.in/dGWx5dCZ #cacao #mercado #precios #chocolate #industria #какао

If you are curious about the side effects of globalisation, looking at the evolution of the cocoa beans trade in the past 50 years is an enlightening journey. That is why companies like COOKO.co have a role to play Ferdi Van Heerden

Countdown to #Cocoa Price Announcement: Producers in #IvoryCoast Await Final Decision at JNCC 👇 As the National Cocoa and Chocolate Days (JNCC) come to a close on September 30, 2024, all eyes are on the upcoming announcement of the new farm gate prices for cocoa. #Speculation is rife, with rumours suggesting a price of 1850 CFA francs ($3.15) per kilogram, aligning with #Ghana’s rate. However, many producers are hoping for a significantly higher price, with some demanding up to 3000 CFA francs ($5.11) per kilogram, citing favourable international market conditions. The official price, to be revealed at 3 p.m., is eagerly awaited, as it will set the tone for the new 2024/25 cocoa campaign. Stay connected and receive the latest updates by subscribing to Ousmane: https://lnkd.in/gft_NQzz Written by Ousmane Attai Ouedraogo and published on EklipX Research

Pakistan’s agricultural and food product exports have soared to an unprecedented $8 billion in the fiscal year 2023-2024, marking a remarkable 37% increase from the previous year’s $5.8 billion. This phenomenal growth is attributed to the diligent efforts of the Special Investment Facilitation Council (SIFC). Key exports include rice, meat, and fruits, with mangoes and spices leading the charge. The opening of the Chinese market for Pakistani meat has been a game-changer. #TrendingPakistan #AgroExports #RecordGrowth #SIFCImpact #PakistaniProduce #GlobalMarket

Ghana: Cocobod in discussions to postpone the delivery of 150,000 to 250,000 tonnes of cocoa in 2024/2025 The drops in cocoa production expected in 2023/2024 in Ivory Coast and Ghana are putting marketing systems that have been well established for several decades to the test. In both countries, sector regulators are trying to adapt to this situation. In Ghana, Cocobod is currently in talks with traders to postpone the delivery of a stock of cocoa beans of between 150,000 tonnes and 250,000 tonnes until the 2024/2025 campaign. The information reported by Bloomberg on April 11, comes in a context where the regulator forecasts less than 500,000 tonnes of cocoa this season compared to a volume of 650,000 tonnes initially expected due to climatic problems, cocoa tree diseases and illegal mining. According to sources who spoke to the economic media, the operators concerned would request discounts on the purchase prices of beans which were supposed to be delivered during the main harvest ending on June 30. In the country, the world's second largest producer of cocoa, the government has in fact increased for the second time during the main campaign, the price guaranteed to farmers by 58% to 33,120 cedis ($2,462) per tonne with the rise in world prices. brown gold in New York and London. It should be noted that, like Cocobod, the Coffee-Cocoa Council (CCC) also decided to postpone until later, the cocoa export contracts which could not be honored by the main harvest which was completed last March. In this case, the regulator plans to satisfy operators during the small milking period from April to September.

RICE IMPORTATION AND OTHER FOOD ITEMS WOES IN SIERRA LEONE, A CONFLUENCE OF CORRUPTION AND PROTECTIONISM https://lnkd.in/d23Xta3Z Sierra Leone’s rice importation and other food sector faces systemic challenges that perpetuate monopolistic practices, inflate consumer prices, and undermine fair competition. For years, major Lebanese and Indian importers have maintained a stranglehold on this market, a monopoly seemingly accepted by the Ministry of Trade and successive governments across political divides. These practices not only intimidate smaller importers but also severely disadvantage the average Sierra Leonean consumer. A striking incident occurred last year when a Sierra Leonean businessman imported a shipload of rice intending to sell it at prices lower than those of CTC. However, his consignment was mysteriously bought up after distribution to various sales points. Reports suggest that the rice was bought and repackaged the bags by larger importers and sold at inflated prices, undermining his efforts to provide affordable food to the population. Small-scale importers face additional barriers, particularly at the Water Quay, where excessive charges are levied on rice and other food items imports despite government directives for free importation. These arbitrary fees make it nearly impossible for smaller players to remain profitable. Adding insult to injury, the proposed 2025 Finance Act, according to information, will impose an additional 5% tax on rice imports, further exacerbating the burden on consumers. *THE BROADER IMPACT* The monopolistic practices of large importers, coupled with government complicity, have far-reaching consequences: *1. Stifled Competition:* Smaller importers can not survive in an environment of excessive charges and intimidation, leaving consumers at the mercy of inflated prices. *2. Neglect of Local Farmers:* The dominance of importers discourages local agricultural production, undermining food self-sufficiency and initiatives like the “Feed Salone” project. *3. Consumer Exploitation:* Ordinary Sierra Leoneans bear the brunt of inflated food prices, further straining household budgets and exacerbating poverty. *4. Unpreparedness for the AfCFTA:* The African Continental Free Trade Agreement (AfCFTA) creates a massive opportunity for regional trade, but it also presents significant challenges. If Sierra Leone’s business people remain unprepared, larger and more efficient players from other African nations may dominate the local market, further marginalizing Sierra Leonean entrepreneurs. *5. Economic Stagnation:* High interest rates on loans and heavy taxation on food items deter entrepreneurs from entering the market, stifling economic growth. RECOMMENDATIONS FOR REFORM Follow the Facebook page for more information