Ivory Coast's Cocoa Crisis: Unpaid Stocks Trigger Farmer Protests
In Ivory Coast, tensions escalate as farmers protest unpaid cocoa stocks amid unsold volumes rotting. Despite government efforts, payments remain delayed affecting future harvests. The CCC's intervention aims to ease tensions, yet distrust grows, prompting fears of market disruptions if the stalemate persists.
Ivory Coast's Coffee and Cocoa Council (CCC) has dispatched officials to the centre-eastern region to quell unrest among farmers who protested last week over their unpaid cocoa stocks. Despite a commitment by the council to purchase these beans, financial compensation has yet to materialize, prompting widespread discouragement that threatens to impact the upcoming harvest.
Focus is now on the town of M'Batto, where police last week deployed tear gas on protesting farmers demanding financial dues. With CCC and agriculture ministry officials unavailable for comment, the situation remains tense. Ivory Coast, the world's leading cocoa producer, faces a backlog of unsold cocoa attributed to a collapse in global prices that dipped below local pricing benchmarks.
A European cocoa trader highlighted that while the current supply remains unaffected, potential risks loom for the next season if the issue remains unresolved. Some farmers in the western regions have reluctantly accepted reduced prices to prevent crop spoilage. The Ivorian Platform for Sustainable Cocoa voices concern over ongoing payment delays, advocating for reforms in cocoa governance to support farmers.
(With inputs from agencies.)
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