Ivory Coast Launches Cocoa Buyback Scheme to Support Farmers Amid Crisis

Ivory Coast’s Coffee and Cocoa Council has launched a government-backed buyback scheme to pay cocoa producers amid a crisis caused by port delays, payment issues, and falling global cocoa prices. The program, costing 280 billion CFA francs, aims to purchase up to 100,000 tons of cocoa by March, with beans stored for later export to stabilise the sector and support farmers’ incomes.

Ivory Coast is facing a serious challenge in its cocoa sector, where stocks of cocoa beans have been piling up in cooperatives across the country. This accumulation has been caused by a combination of factors, primarily logistical issues at the ports and a liquidity problem within the commercialisation chain. According to Yves Brahima Koné, director general of the Coffee and Cocoa Council (CCC), ships arriving at the port of Abidjan are not arriving on time to collect available cocoa, creating delays. At the same time, a shortage of liquidity has led to payment problems throughout the supply chain, slowing down the normal commercial flow of cocoa.
In addition to these domestic challenges, global cocoa prices have dropped, causing exporters to refuse purchases, which has exacerbated the crisis. In response, the CCC has launched a government-supported buyback initiative aimed at ensuring that producers are paid the official price set by the government. This measure is intended to prevent a social crisis, as cocoa farming is a vital source of income for many people in the country.
The buyback program is expected to cost around 280 billion CFA francs and plans to purchase up to 100,000 tons of cocoa by the end of March. The initiative is being implemented in two stages. The first stage involves buying and storing the cocoa beans, while the second stage will focus on exporting the stockpiled beans. CCC officials have emphasized that they are prepared to sell the cocoa quickly if buyers express interest, allowing for both the stabilisation of local markets and the continuation of exports. This initiative represents a coordinated effort by the government and the CCC to support farmers, maintain economic stability, and address the logistical and financial challenges currently affecting the cocoa sector.