Ivory Coast Cuts Farmers’ Pay by 25% for Smaller Harvest
- Pay of 750 CFA per kilogram is 9% drop from last mid-crop
- Cocoa regulator urges farmers to plant less to boost prices
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Ivory Coast reduced cocoa farmers’ pay by a quarter for the smaller of two harvests due to dwindling global demand for chocolate.
The world’s top producer, which increased pay rates to 1,000 CFA francs for the main harvest amid a commitment to improve the income of farmers, was unable to sustain the raise for the smaller harvest, which begins April 1. While the mid-crop harvest tends to attract a lower price than the main-crop, this still represents a 9% drop from last year’s mid-crop price.