(Ecofin Agency) - In its October forecasts release, Dutch bank Rabobank said Côte d’Ivoire’s cocoa output should reach 1.83 million tons in 2017/18, slightly below 2016/17’s output (2 million tons).

The expected decrease will result from above-normal rainfalls and a lower guaranteed minimum price to cocoa producers (CFA700 per Kg).

According to the lender, this price which is 36% lower than that applied at the beginning of the previous season could push some farmers to reduce the volume of fertilizer they use to grow the crop, and also neglect harvests during the actual main season and the coming intermediate season. 

In 2017/2018, the global cocoa market should record a surplus of 130,000 tons, according to Rabobank’s provisional forecasts. 

Espoir Olodo