President Alassane Ouattara has announced a record-high farm gate price for cocoa for the upcoming main harvest, ahead of presidential election on October 25 in which Mr. Ouattara is a candidate, seeking a fourth term.

Yamoussoukro

Ivory Coast, the world's leading cocoa producer, has set a new record price for cocoa at 2,800 CFA francs (4.26 euros) per kilogram for the main harvest. President Alassane Ouattara announced the increase, citing rising global market prices and noting its significance for local farmers. 

The timing of the announcement comes just weeks before the country's presidential election, in which President Ouattara is seeking a fourth term. The state-controlled pricing system aims to protect farmers from market volatility, and cocoa remains a crucial 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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