(Ecofin Agency) - In Côte d’Ivoire, cocoa producers can rejoice as the government has just announced an increase in the price per kilogram of the commodity. Indeed, Ivorian President Alassane Ouattara indicated that this price would register an upwards movement from 1^st October.

“On 1^st October, I will again increase the farm gate price”, he announced during a meeting in Abengourou, in the East of the country. He did not mentioned though what would be the new price, settling for indicating that the decision will be taken after a meeting between the executive and the farmers.

The price of FCfa 850 currently used was settled upon at the beginning of the 2014/2015 crop season. This represents an increase of FCfa 100 compared to the previous season. It is worth noting that the farm gate price evolves depending in the performances of the Ivorian cocoa which posted a crop of 1.7 million tons in 2014/2015 against 1.3 million tons in 2013/2014.