(Ecofin Agency) - The Ivorian government decided to maintain the cocoa farm gate price at CFA700 for the 2017-18 mid-crop which will begin April 1. This was disclosed at the end of the ministers’ council held last March 28.

According to latest forecasts from Coffee-Cocoa Council (CCC), the light crop should end in September with 400, 000 tons produced, down 23% compared to last year, due to insufficient rain that hindered cocoa trees’ development.

Globally, the prospect of a drop in Côte d’Ivoire and Ghana’s cocoa output in 2017-2018, increased the beans’ price on the world market still marked by a slight surplus.

In New York, the price of cocoa per ton was $2,643 last March 26, the highest level in a year and a half. Meanwhile, in London, this price was £1,836 on March 27, the highest rate recorded in a month.

Espoir Olodo