The Ivorian government has endorsed the proposal of the Ministry of Agriculture and the Coffee and Cocoa Council (CCC) to systematically and compulsorily grant 20% of the purchases of export contracts of the 6 multinationals to local traders who will be appointed by the Coffee and Cocoa Council. . This is what emerges from the press release of the Council of Ministers of May 26, 2021.
“The Council decided, in order to promote the emergence in the sector, of national champions and to create the conditions for the sustainability of their activities, to allocate 20% of beans exports to Ivorian coffee and coffee exporters and processors. cocoa. Thus, multinationals will have to systematically cede 20% of the volume of any release contract to national exporters or processors in the form of international contracts ”, indicates the government note.
According to the state of Côte d’Ivoire, 50% of Ivorian operators involved in cocoa trading and processing have closed shop due to economic and financial difficulties added to the drop in world cocoa prices. As well as the stranglehold of multinationals which control 100% of purchases and exports of cocoa beans and semi-finished products.
This government decision aims to reduce the monopoly and allow Ivorian exporters to take advantage of the cocoa windfall and face their cash flow problem affected by the effects of Covid-19.
