Côte d'Ivoire’s President reveals plan of processing 1mn tonnes of cocoa


Devdiscourse News Desk | Abidjan | Updated: 28-01-2020 17:18 IST | Created: 28-01-2020 17:18 IST
Côte d'Ivoire’s President reveals plan of processing 1mn tonnes of cocoa
Alassane Ouattara believes the government will dedicatedly work on the densification of the industrial fabric and support for nationals who invest. Image Credit: Wikipedia
  • Country:
  • Ivory Coast

The planet’s leading cocoa production, Côte d'Ivoire intends to produce 1 million tonnes from the current 600,000 tonnes, the President of the Ivory Coast, Alassane Ouattara said.

“We are the first cocoa producing country and for this campaign we hope to be over 2 million tonnes and we are barely processing 600,000 tonnes, this is not normal, I know that the objective is to try to go up to 1 million tonnes and I encourage you,” the President cited.

To achieve this volume of processing at the local level, the Ivorian State has decided to ‘give derogations to industrialists who are ready to invest in Côte d'Ivoire for the processing of cocoa but also cashew nuts whose transformation rate is less than 10 percent’.

Côte d'Ivoire is the leading country in terms of production. Alassane Ouattara believes the government will dedicatedly work on the densification of the industrial fabric and support for nationals who invest.

The country has witnessed an annual growth rate of 8 percent in 9 years, the figure is double the gross domestic product since 2011. The inflation rate stands at about 2 percent while the budget deficit stands at 3 percent of the gross domestic product.

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