Major cocoa producers advocate for implementation of 2026 International Cocoa Agreement amid price volatility

Major cocoa-producing countries, representing 95% of global production within the International Cocoa Organization ICCO, are urging the effective implementation of the 2026 International Cocoa Agreement. This call comes in response to persistent price volatility in the international cocoa market. Aly Touré, Permanent Representative of Côte d’Ivoire to international commodity organizations, articulated this position during a press conference held on March 31, 2026, at the ICCO headquarters in Cocody. The agreement is built on four strategic pillars: ensuring a living income for producers through economic sustainability and fair prices; promoting a more equitable distribution of value by encouraging local processing of cocoa beans in producing countries; reducing trade barriers, particularly non-tariff ones, to improve market access and protect producer incomes; and expanding ICCO membership while strengthening its international actions. Touré emphasized that the agreement would significantly improve the global cocoa economy if fully and proactively implemented, reminding that without producers, there would be no cocoa industry or chocolate. He also highlighted a structural shift in the market, noting that the price drop observed in 2026 is not cyclical but reflects an unfavorable power dynamic for producers, with manufacturers having reconfigured their products. Touré believes global cocoa demand is on a sustained downward trend, necessitating collective action from producing