In Côte d'Ivoire, the cocoa sales system has been reformed for almost a decade. This marketing scheme allows the country to sell each year before the start of a new season, a certain proportion of the coming harvest.
In Côte d'Ivoire, external marketing for the 2021/2022 cocoa season is going well. According to the latest monthly report from the International Cocoa Organization (ICCO), the country has already pre-sold 1.4 million tonnes of beans as of August 8. This volume represents 93% of the target of 1.6 million tonnes set by the end of September.
While the coronavirus pandemic continues to weigh on global demand, the Ivorian authorities are currently applying in the context of sales, a discount of 150 pounds per tonne on each export contract, or 50 pounds less than in 2020/2021.
In the country, the world's largest supplier of brown gold, bean production is expected to pass the 2 million tonnes mark in 2021/2022 according to analyst forecasts.
As a reminder, the Café-Cacao Council (CCC) sells in advance through electronic auctions 70 to 80% of its overall harvest in order to take advantage of possible increases in world prices and to set the minimum price for producers during the main campaign.
Source : Espoir Olodo / Agence ecofin