Ivory Coast is expected to maintain the fixed farmgate price for cocoa beans at 1,200 CFA francs ($2.14) per kilogram for the 2026/27 main crop season, which begins September 1. This decision is based on information from four industry and two government sources.
This price is at the lower end of the 1,200-1,500 CFA francs range proposed by the regulator, the Coffee and Cocoa Council (CCC), to the government. The range was determined by the average forward sales of the 2026/27 main crop made by the CCC between March and June.
"We have a clear idea of the CCC's average sales, and we know the guaranteed price for the 2026/27 main crop could not exceed 1,300 CFA francs," stated the director of a European export company based in Abidjan, adding that 1,200 CFA francs is a more realistic price.
In early March, cocoa was trading on global markets at around £2,100 per metric ton, increasing to approximately £3,800 by late June, and has since surpassed £4,800.
Government sources indicated that the CCC, which needs to sell about 80% of the projected harvest in advance to set a fixed farmer price, was compelled to finalize deals for over 1.1 million tons at low prices.
"Our simulations indicate that maintaining the guaranteed price... is the best solution and the least costly option for public finances because, beyond that, we will have to subsidize the price once again, and that will cost billions," a government source explained.
Meanwhile, Ghana, the world's second-largest cocoa producer, is also anticipated to keep its farmer price unchanged for the new season, according to four industry sources. Ghana had previously set its price at 41,392 cedis ($3,797) per metric ton, equivalent to about 2,000 CFA francs per kilogram. Under a new law, Ghana's Cocoa Board will periodically review prices instead of fixing them for the entire season.
Industry sources suggest that the low cocoa prices in Ivory Coast could lead to increased smuggling into Ghana, Liberia, and Guinea, countries that do not impose cocoa taxes and host major foreign buyers. Exporters and industry stakeholders estimate that Guinea exports around 100,000 metric tons annually, while Liberia exports about 30,000 metric tons, with both countries having seen increased export volumes over the past three seasons despite not growing large quantities of cocoa.
