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IVORY COAST

French banks lose out on cocoa business

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“West African cocoa cartel battles with the traders”

GHANA IVORY COAST

West African cocoa cartel battles with the traders

By jointly introducing a premium of $400 per tonne on cocoa beans in autumn 2020, Ivory Coast and Ghana were seeking to ensure that cocoa producers' revenues were maintained. In so doing, however, they sparked off an open war with the big commodity traders, who have since taken steps to get round the measure and avoid paying the premium. This battle of wills has paralysed a sector which has already been badly affected by Covid-19 and speeded up the transformation of the trading sector, encouraging Ghana and Ivory Coast to trade their cocoa beans on their own account. [...]

The Conseil Café Cacao (CCC) is no longer holding its revenues with the Ivorian branches of French banks, preferring instead to use African establishments as a matter of course. [...] (359 words)

Published on 24/09/2020 at 05:00 GMT Reading time 2 minutes

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Finance Commodity traders Business

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IVORY COAST
Aymeric Villebrun
Bank of Africa
Banque Atlantique
Banque d'Abidjan
Banque internationale pour le commerce et pour l'industrie de Côte d'Ivoire
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AFRICA Commodity traders Business 15/12/2020

Cacao producers' revolt spills over into coffee industry

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Ouattara campaigns on cocoa price in Akan country

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IVORY COAST
Aymeric Villebrun
Bank of Africa
Banque Atlantique
Banque d'Abidjan
Banque internationale pour le commerce et pour l'industrie de Côte d'Ivoire
Banque nationale d'investissement
BGFI
BNP
Bridge Bank
Cargill
Central Bank of West African States
Conseil Cafe Cacao
Coris
Fonds d'investissement en milieu rural
George Wega
Hamed Bakayoko
Rassemblement des houphouëtistes pour la démocratie et la paix
Societe Generale
Societe Generale Cote d'Ivoire
Standard Chartered Bank
Yao Kouassi
Yerim Sow

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This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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create a free account

Set up email notifications for these topics

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This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

Create your free account

create a free account

Set up email notifications for these topics

Société Générale tends to its image amid financial woes

Money laundering investigation rocks Ivorian banking sector

SAF's unpaid debt now the "Enron" of the cocoa industry

Bouygues to sell its stake in the consortium managing the Henri Konan Bédié Bridge

Société Générale looks for a new pathfinder in the corridors of power

Ouattara wants to bypass traders on the Chinese front

Cacao producers' revolt spills over into coffee industry

Cacao giants battle with CCC, while 45,000 tonnes of beans wait outside Abidjan port

Cocoa traders with RHDP ties given second chance for 2021 season

Co-operative Bank determined to land coffee settlement system

Ouattara campaigns on cocoa price in Akan country

Charity begins at home for Covid-19 funds

Cocoa giants forced to allow locals to purchase beans

Cocoa trader Côte d'Ivoire Commodities in trouble

Newly-formed cocoa cartel tries to force hand of traders

Set up email notifications for these topics

First visit

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A website produced by

Indigo Publications also publishes: