By Kofi Mensah, African Business Correspondent
The Ivorian government has unveiled a major cocoa buyback program aimed at easing financial pressures on farmers and stabilizing the sector. The initiative, led by the Coffee and Cocoa Council (CCC), comes as cooperatives across the country struggle with unsold stockpiles of beans.
Yves Brahima Koné, Director General of the CCC, explained that two key challenges have triggered the crisis: delays in shipping at the port of Abidjan and liquidity shortages within the commercial chain. “When vessels fail to arrive on schedule, production remains stuck in warehouses. Coupled with limited liquidity, this creates payment bottlenecks for producers,” Koné said.
The situation worsened after exporters halted purchases due to falling global cocoa prices, leaving thousands of growers without income. To prevent a social crisis in a nation where cocoa is a lifeline for many households, the government has stepped in with a buyback scheme worth 280 billion CFA francs.
Under the plan, up to 100,000 tons of cocoa will be purchased by the end of March. The first phase focuses on acquiring and storing the beans, while the second will prioritize exporting the stockpile once market conditions improve. Officials emphasize that the CCC is ready to act quickly should international buyers show interest.
Koné reassured farmers that the government’s intervention guarantees them the official price set by authorities, offering much-needed relief in uncertain times.
