Ivory Coast is considering reducing the guaranteed price it pays cocoa farmers, following a similar move by Ghana, as both countries struggle with the impact of a sharp decline in global cocoa prices.
Sources within the Ivorian government confirmed that discussions are ongoing about whether to align with Ghana’s recent decision to cut its farm gate price by 28.6 percent for the remainder of the 2025/2026 main crop season. Ghana’s move was taken in coordination with Ivory Coast, reflecting the close partnership between the two West African producers in navigating the current market downturn.
Together, Ivory Coast and Ghana account for roughly 60 percent of global cocoa output. Since international cocoa prices began falling sharply in recent months dropping by nearly 50 percent the two countries have intensified consultations under the Ivory Coast–Ghana Cocoa Initiative (ICCIG).
One senior Ivorian official, speaking on condition of anonymity, said all options remain under consideration. The government is prepared to make “courageous and realistic decisions” to safeguard the future of the cocoa sector, which remains central to the country’s economy. Another source noted that the steep price decline has significantly limited the government’s room to maneuver.
“We must think about the survival of the cocoa sector in Ivory Coast. We need to act; changes are underway,” the official said, without providing details on the measures being considered.
An inter-ministerial committee has already met to assess the situation, and a final decision is expected soon. A spokesperson for the Ivorian government has yet to comment publicly on the matter.
The ICCIG has indicated that both countries are adapting to the sudden market reversal while trying to prevent long-term damage to the sector. Alex Assanvo, Executive Secretary of the initiative, said coordination between Ivory Coast’s Coffee and Cocoa Council (CCC) and Ghana’s COCOBOD remains strong, with trading teams maintaining regular contact.
Assanvo also defended the Living Income Differential (LID), introduced in 2019 to improve farmers’ earnings. He argued that the recent volatility in global prices has reinforced the importance of the mechanism rather than diminished it.
According to him, the ICCIG is preparing a high-level meeting between the two governments to strengthen coordination as cocoa farmers face increasing financial strain. Stakeholders across the cocoa value chain are expected to be convened to assess market developments and propose improvements to existing price-stabilization measures.
Meanwhile, exporters and buyers in Abidjan believe a price cut is likely. Industry observers suggest the question is no longer whether Ivory Coast will follow Ghana’s lead, but when.
“The country is resisting, but for how long? I don’t see Ivory Coast doing something different from Ghana,” the head of an Abidjan-based export company said.
