The government of Ivory Coast has launched a major cocoa buyback programme to support farmers after a sharp drop in global cocoa prices and rising stockpiles in producing regions. Authorities plan to purchase about 123,000 tonnes of cocoa beans from farmers, spending more than 280 billion CFA francs to stabilise incomes and prevent economic hardship in rural communities.
The initiative is designed to ease pressure on cooperatives and marketing channels struggling with excess supply in the international market. Global cocoa prices have fallen from record highs above $12,000 per tonne in late 2024 to approximately $2,950 per tonne currently, leaving Ivorian beans uncompetitive at the guaranteed farmgate price.
However, the plan has already sparked concerns among farmer groups. The National Union of Farmers for the Renaissance of Agricultural Sectors of Côte d’Ivoire (SYNARFA-CI) warned of alleged misallocation of cocoa quotas that could disadvantage producers. Chairman Bakayoko Vamara said such actions would undermine fairness and the government’s goal of supporting farmers.
The union plans to conduct field visits in the coming days to gather evidence and ensure the programme truly benefits cocoa producers. For Ivory Coast, the world’s largest cocoa producer, ensuring farmer incomes remains critical to rural stability and export earnings. The buyback programme represents a significant fiscal commitment to protecting the sector from global market volatility.
