Ivorian farmers report 23,000 tonnes of leftover cocoa.
The Conseil Café Cacao is giving away 23,000 tonnes of cocoa. This is because there was too much cocoa from the harvest. The government bought 100,000 tonnes to help solve the problem.
The Interprofessional Cocoa Organization (OIA) is waiting for money to pay for unsold cocoa. The harvest, which happened from October to late February, slowed down. This was because cocoa companies did not have enough money. Large amounts of cocoa were kept in producer cooperatives. The government decided to buy 100,000 tonnes of cocoa to fix this situation.
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Highlights
Cocoa Stocks to be Distributed
The Conseil Café Cacao will distribute 23,000 tonnes of leftover cocoa.
Payment Issues Delay Stocks
The OIA is waiting for payment for residual cacao stocks.
Harvest Slowdown Causes Stocks
The October to late February harvest campaign slowed due to lack of liquidity.
Government Purchases Cocoa
The government bought 100,000 tonnes to solve the stock problem.
Large Cocoa Stockpile Problem
Significant stockpiles of cocoa were held in producer cooperatives.