Côte d'Ivoire's Coffee-Cocoa Council ends 100,000-tonne cocoa repurchase program

The Council refuted claims that it was committed to acquiring any remaining stock on the market, specifically denying reports of repurchasing residual stock at 2,800 FCFA per kilogram. This program was initiated by the Ivorian government in response to a more than 70% drop in global prices and an oversupply in regional stocks. An allocation of 280 billion CFA francs approximately 427 million euros was provided for this purpose to restore market fluidity.

The CCC clarified that the program, executed in conjunction with OIA Café-Cacao, was strictly limited to the targeted volume of 100,000 tonnes that had been previously inventoried and stored in approved warehouses, and there was never an intention to buy back the entire production. Côte d'Ivoire, the world's leading cocoa producer, is currently facing significant volatility in the raw materials market, which is impacting local producers' incomes.