(Ecofin Agency) - In Côte d’Ivoire, Alassane Ouattara has just announced his intention to raise the share of his country in the world production of cocoa to 50%. “I hope that we will be able to go beyond 50% of the world production in 2020 while continuing to improve the quality of our cocoa”, the president indicated after his re-election.

According to the leader, the country which is already supplying 45% of the commodity worldwide could thus finance its growth rather than resort to loans. “We will continue to improve our production, there is no limit to what we can achieve”, he added. It is worth noting that these declarations come as the production for the 2014-2015 season should be around 1.8 million tons (which would be another record) and the farm gate price for the next crop season crossed the psychological threshold of FCfa 1,000 per kilogramme.

If Alassane Ouattara can allow himself to dream big for Ivorian cocoa, it is also because he is benefitting from an international environment particularly favourable supported by the increase in the world demand and the drop in the production of its runner-up Ghana.

The underperformance of Accra still casting a shadow of shortage on the sector, the price of the commodity is currently at its highest. Despite this favourable environment, Abidjan would better take seriously the warnings of Jean-Marc Anga, president of the International Cocoa Organisation (ICCO) who, playing the devil’s advocate, insisted on the risk of the market being flooded considering the spectacular progress registered by the Ivorian cocoa production.