President Alassane Ouattara has announced a record-high farm gate price for cocoa, setting the cost at 2,800 CFA francs (4.26 euros) per kilogram for the upcoming main harvest, ahead of presidential election on October 25.

Yamoussoukro

Ivory Coast has announced a new record price for cocoa, setting it at 2,800 CFA francs (4.26 euros) per kilogram for the main harvest. President Alassane Ouattara made the announcement, citing soaring global cocoa markets as the reason for the increase. The decision comes shortly before the country's presidential election, where Ouattara is seeking a fourth term. The government-controlled pricing system is designed to protect farmers from market volatility, and the new rate marks a significant rise from the previous price set in April. Cocoa is a vital part of the Ivorian economy, accounting for 40 percent of global production and supporting millions of people.

Ivory Coast sets new cocoa price ahead of upcoming elections

In a major announcement for the global chocolate industry, Ivory Coast has set a record price for its cocoa. The world's top producer will now pay farmers 2,800 CFF francs, an equivalent of 4.26 euros per kilogram, for the main harvest. Ivorian President Alassane Ouattara made the announcement on Wednesday in Abidjan, linking the historic price directly to soaring global markets. But the timing is politically significant, coming just weeks before an October 25th presidential election, in which President Ouattara is seeking re-election for a fourth term. In Ivory Coast, the state sets the price for farmers, a system that shields them from market swings. This new price is a significant jump from the previous rate set in April. The crop is a cornerstone of the Ivorian economy, accounting for 40 percent of world production and supporting millions of people�

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