Oyez, hey, the sad story of cocoa planters… The bad news has just fallen. For the harvest ready to begin, the pay will be tight. Côte d’Ivoire decided on Wednesday March 31 to reduce the amount paid by a quarter. The price of cocoa, paid “edge of the field”, set at 750 CFA francs (1.14 euros) per kilo, is dented.
Yet in October 2020, it was time for optimism. Côte d’Ivoire, the world’s leading producer of “brown gold”, with more than 40% of volumes, had unveiled an official price of 1,000 CFA francs per kilo for the main annual harvest. Its neighbor, Ghana, lined up. The two countries had obtained from the multinational chocolate companies that they put a little butter on the cocoa market. They had pledged to pay a “Decent income differential” of 400 dollars (340 euros) per tonne, in addition to the price of the commodity listed in London.
Simple coincidence? This upgrading was announced as Alassane Ouattara was playing for re-election as President of Côte d’Ivoire, against a backdrop of strong tensions, and her Ghanaian counterpart, Nana Akufo-Addo, was also seeking a new mandate. However, by the end of November 2020, the clouds started to accumulate. Rather unusually, the pair of producing countries chose to publicly denounce Hershey and Mars, who were reluctant, according to them, to go to the cash register. Finally, an agreement was reached, and the sanctions with which they were threatened were lifted.
“Slight drop in consumption”
However, on the ground, the rhetoric was not followed through. Cocoa powder in the eyes of Ivorians? The planters did not see the color of the 1,000 CFA francs. ” Too bad. The agreement came into effect when the pandemic arrived. With the closure of restaurants, the sharp drop in sales at airports, there has been a slight decline in global chocolate consumption. Even though the bean harvest was abundant ”, explains Patrick Poirrier, president of the Chocolate Union and boss of the Cémoi company. Cocoa had difficulty in flowing, manufacturers were choosy and prices slipped.
The fair trade players decided, on Easter eve, to ring the bells for the multinational chocolate companies. They suspect them of having “Preferred to curb their cocoa purchases and draw on their stocks to put pressure on” on prices. A year ago, Easter fell into full containment. The egg hunt was on its way. Sales of chocolate confectionery fell by 27%, during this crucial period, in supermarkets, compared to the 300 million euros collected in 2019.
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