Ivory Coast sells 400,000 tons of 2025/26 cocoa export contracts, sources say

Reuters03-10

ABIDJAN, March 10 (Reuters) - Ivory Coast's Coffee and Cocoa Council has sold more than 400,000 metric tons of cocoa export contracts to local grinders in the 10 days since exporters resumed purchases for the mid-crop, sources at the regulator and exporters told Reuters on Tuesday.

Exporters' association GEPEX, which includes Barry Callebaut BARN.S, Olam OLAG.SI and Cargill CARG.UL, agreed on a solution with the regulator in late February.

Only 10,000 tons has been previously sold for the mid-crop due to a sharp drop in global prices, an official at the CCC said, highlighting "a great performance" after the resumption.

Last week, the world's biggest cocoa producer cut the fixed farm-gate price paid to cocoa farmers to 1,200 CFA francs ($2.13) per kg for the mid-crop season, which started earlier than usual on March 1, in order to boost sales.

"With the mid-harvest advancing by a month, we have a little more volume to sell, but we don't have much left," another official from the CCC told Reuters, adding that 400,000 tons is the entire estimated volume for the intermediate crop.

The drop in global prices has made Ivorian cocoa costly, resulting in unsold bags of beans piling up both inland and at the country's ports in recent months.

($1 = 564.5000 CFA francs)

(Reporting by Ange Aboa; Writing by Anait Miridzhanian; Editing by Alexander Smith)

((Anait.Miridzhanian@thomsonreuters.com;))

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Buffet99
03-11
Buffet99
ABIDJAN, March 10 (Reuters) - Ivory Coast's Coffee and Cocoa Council has sold more than 400,000 metric tons of cocoa export contracts to local grinders in the 10 days since exporters resumed purchases for the mid-crop, sources at the regulator and exporters told Reuters on Tuesday. Exporters' association GEPEX, which includes Barry Callebaut BARN.S, Olam OLAG.SI and Cargill CARG.UL, agreed on a solution with the regulator in late February. Only 10,000 tons has been previously sold for the mid-crop due to a sharp drop in global prices, an official at the CCC said, highlighting \"a great performance\" after the resumption. Last week, the world's biggest cocoa producer cut the fixed farm-gate price paid to cocoa farmers to 1,200