(Ecofin Agency) - The Ivorian coffee and cocoa council (CCC) denied plans to cancel and resell contracts of indebted cocoa exporters, the Ivorian Press Agency (AIP) reports citing a statement from CCC’s management dated Jan. 18.

CCC’s move comes after Reuters published an article the day before citing a source from the ministry of finance who claimed the organization was going to cancel and sell the contracts, “having looked at all the possibilities”. CCC’s statement in response says: “the coffee and cocoa council and the ministry of economy and finance deny the information. It is a lie and it is meant to manipulate the market”.

Let’s recall that Ivory Coast has provided 93 exportation permits for the 2016/17 season which started last October and is to end next September. It sold by anticipation 1,308,000 tons of cocoa for the ongoing season.