The government of Ivory Coast has announced plans to purchase the full stock of cocoa held by the country’s cooperatives in a bid to ensure farmers receive payment, following a steep fall in global cocoa prices to their lowest level in two years.
Speaking on Tuesday, Agriculture Minister Kobenan Kouassi Adjoumani described the initiative as a “simple and effective” strategy to stabilise incomes in the world’s largest cocoa-producing nation. The government plans to work with established national operators, in coordination with cocoa shredders, multinational companies, and international exporters, to execute the purchases efficiently.
The move comes amid slowing exports that have left cocoa stocks accumulating, despite the sector accounting for roughly 14% of Ivory Coast’s gross domestic product. Cocoa production is a cornerstone of the economy, providing livelihoods for one in five Ivorians and underpinning rural development across the country.
Prices have declined by approximately $5 per kilo following a late 2024 surge, which led chocolate manufacturers to cut consumption and slowed demand in key markets such as Europe and Asia. Analysts say the government’s intervention is designed to prevent farmers from bearing the brunt of market fluctuations and to maintain stability within the sector.
Minister Adjoumani emphasised that the scheme would support farmers directly, enabling them to continue operations without financial disruption while ensuring that Ivory Coast retains its position as a global leader in cocoa production. “This approach allows us to safeguard both livelihoods and the sustainability of the cocoa industry,” he said.
Experts note that while stock purchases can provide short-term relief for producers, the government will need to carefully manage the programme to avoid creating long-term market distortions. Coordinating with international buyers and processors is expected to mitigate such risks, while ensuring the surplus is eventually exported or processed domestically.
The initiative highlights the crucial role of cocoa in Ivory Coast’s economy and the government’s commitment to protecting farmers from the volatility of global commodity markets. With global demand facing uncertainty, stabilising farmer incomes and maintaining export capacity is seen as essential for both social and economic resilience.
As the programme unfolds, stakeholders will be watching how effectively the government balances immediate support for farmers with broader market dynamics, including pricing, export flow, and engagement with international partners.
