Local cocoa exporters are experiencing significant supply issues and may not manage to honour the contracts that expire when the main 2022-2023 harvest ends this month. Citing lack of action from the cocoa regulatory board, they are asking the president to step in.
Details have emerged about Yaoundé et Abuja's talks in Abidjan to join the Ivory Coast-Ghana Cocoa Initiative, set up to defend the interests of the world's two largest cocoa producers.
The Ivory Coast-Ghana Cocoa Initiative (ICCIG), based in Accra since September 2021 and headed by the experienced Ivorian Alex Assanvo, is struggling to bring multinationals on board. It is also trying to persuade the two regulatory bodies to radically shift their priorities.
As it struggles to make cocoa traders pay the premium introduced last year in conjunction with Ghana, Ivory Coast is preparing to take its own steps in trading by opening a marketing office in China.