Tag: cocoa floor price
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Ivory Coast, Ghana pricing agreement causing a ‘spike in cocoa cost’
A new cocoa pricing mechanism announced by top growers Ivory Coast and Ghana earlier this month is causing cocoa costs to rise, a Mondelez International Inc (MDLZ.O) executive said on an earnings call with analysts on Tuesday. “It is fair to say that given some of the proposals that are coming out of Cote D’Ivoire…
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Buyers boycott Ghana cocoa after new floor price — sources
The world’s second-largest cocoa producer offered to sell beans for the first time since introducing a surcharge, and found no buyers, according to people familiar with the matter. Ghana’s Cocoa Marketing Company, responsible for selling the nation’s cocoa, offered beans for 2020-21 to traders on Wednesday, said the people, who asked not to be identified…
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Ghana, Cote d’Ivoire to pay 70 percent of floor price to cocoa farmers
Cocoa farmers in Ghana and Cote d’Ivoire will henceforth be entitled to a minimum of seventy percent of the agreed floor price. By this, farmers are expected to receive 1,820 dollars per tonne of cocoa beans sold granted the floor price is held constant at 2,600 dollars. In addition, the farmers will henceforth be protected…