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IVORY COAST

RockWinds and Africa Commodities' spat over €5m cocoa investment bounces back in Paris

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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. [...]

The dispute between Matthew Stolz's RockWinds trading company and its former Ivorian partner Africa Commodities, which is claiming back €5m RockWinds invested in cocoa futures, has already been arbitrated in London but is now the subject of proceedings at a Paris court. [...] (259 words)

Issue dated 11/01/2022 Reading time 2 minutes

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President of the Groupement inter-patronal du Cameroun Célestin Tawamba. © CelestinTawamba.GicamOfficiel/Facebook

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IVORY COAST
Africa Commodities
BGFI
Fédération du commerce des cacaos
First City Monument Bank
Ghana International Bank
Matthew Stolz
Niche Cocoa Industry
Patrice Adoubi
RockWinds

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RockWinds and Africa Commodities' spat over €5m cocoa investment bounces back in Paris

West African cocoa cartel battles with the traders

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Wheat price hike threatens to spark mill war

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Legal wrangle stirs up the cosy cocoa community

Heeney Capital takes a shine to gold mining in Siguiri Free

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RockWinds and Africa Commodities' spat over €5m cocoa investment bounces back in Paris

West African cocoa cartel battles with the traders

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

2 options offered to continue reading

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Wheat price hike threatens to spark mill war

The behind-the-scenes power players at the redoubtable Department of Mineral Resources and Energy

Amid Ramadan demand surge, grain trader Millcorp supplies Morocco via Switzerland

Legal wrangle stirs up the cosy cocoa community

Heeney Capital takes a shine to gold mining in Siguiri Free

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