Ivory Coast sets cocoa farmgate price at 1,200 CFA francs per kg for 2026/27 main crop, official says

Ivory ​Coast has maintained the ‌fixed farmgate ​price paid to cocoa farmers at 1,200 CFA francs (around $2.12) per kg ‌for the 2026/27 main crop season, agriculture minister Bruno Kone said on Tuesday.

The announcement coincided with the launch of ‌the main crop season in the world's largest cocoa ‌producer, with harvests expected to run until February 28, 2027. The farmgate price is the amount of money farmers receive for their ⁠product ​after harvest ⁠and before any intermediaries, exporters, processors, traders or cooperatives add value.

Ahead of ⁠last year's main crop, Ivory Coast announced a record farmgate ​price of 2,800 CFA francs per kg, though ⁠the government cut it to 1,200 CFA francs in March for ⁠the ​mid-crop to stimulate sales after global cocoa prices retreated sharply from record highs. Cocoa traded on global markets ⁠at about £2,100 per metric ton in early March, before gradually ⁠rising to ⁠around £3,800 by late June. Prices have since climbed above £4,800 per ton.