The Ivorian government has begun buying blocked cocoa stocks to ease the sector crisis. The move aims to ensure cocoa farmers are paid after weeks of export slowdowns. Cocoa makes up about 14% of Côte d’Ivoire’s GDP and supports millions of people. Exporters have faced liquidity problems amid falling global cocoa prices. This has left many farmers without income for several months.
The State is advancing funds to buy the cocoa through the Coffee-Cocoa Council. Exporters are expected to repurchase the stock later and repay the advance. Authorities say the operation will guarantee farmers receive the official price set by the government.
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