Ivory Coast Cocoa Dilemma: Unsold Stock Piles Up

Ivory Coast faces a surplus of 200,000 metric tons of cocoa due to state-regulated prices. Industry experts suggest that reducing these prices is essential to stimulate sales from local farmers to global traders, thereby avoiding the accumulation of unsold cocoa by next month.

Ivory Coast stands at a critical junction with 200,000 metric tons of cocoa potentially unsold by the end of next month. The stalemate arises from state-regulated prices that industry experts suggest need cutting to boost sales.

Local farmers are unable to push their produce to global traders due to the financial impasse, compounding the predicament facing the nation known as the world's top cocoa producer.

Trading executives argue that slashing these prices could unlock the market, ensuring economic mobility and supporting the livelihoods of countless farmers.

(With inputs from agencies.)