Cocoa farms in Côte d’Ivoire are aging, lack investment, and are vulnerable to disease and climate change. Diseases like the swollen shoot virus and black pod, exacerbated by climate change, reduce yields. The Ivorian government’s price-fixing mechanism prevents producers from benefiting from high world market prices. Advance selling policies in Côte d’Ivoire and Ghana have contributed to a supply crisis, raising global prices but reducing the incomes of local farmers. Indeed, the forward sales policies of regulators have led to unfulfilled production commitments, contributing to the increase in the world price of cocoa. The majority of farmers live below the poverty line, unable to reinvest in their plantations.
Initiatives such as Tony ‘s Chocolonely, which pays a premium price, remain rare and do not cover the majority of farmers. The distribution of cocoa income is unequal, with little visible benefit for farmers despite government promises. Ivorian producers risk losing market share to competitors from other regions of the world.
Source : Financial Times
