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IVORY COAST

RHDP bigwig Youssouf Soumahoro sparks ire with weights and measures monopoly

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“West African cocoa cartel battles with the traders”

IVORY COAST GHANA

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. [...]

Côte d'Ivoire Métrologie, the company of former minister Youssouf Soumahoro which has a monopoly on weights and measures throughout the country, has outraged farmers and the business community by sending its prices through the roof. [...] (390 words)

Issue dated 21/10/2020 Reading time 2 minutes

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Commodity traders Business

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Receive free prompts for these topics

IVORY COAST
Adama Kamara
Alassane Ouattara
Amadou Gon Coulibaly
Barry Callebaut
Cargill
CGECI
Confédération des Grandes Entreprises de Côte d'Ivoire
Conseil Cafe Cacao
Côte d'Ivoire Métrologie
Gepex
Groupement professionnel des exportateurs
Hamed Bakayoko
Olam
Rassemblement des houphouëtistes pour la démocratie et la paix
Youssouf Soumahoro
Youssouf Soumahoro, a RHDP ruling party baron
Yves Brahima Kone

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RHDP bigwig Youssouf Soumahoro sparks ire with weights and measures monopoly