Ivory Coast seizes 1,100 tonnes of smuggled cocoa amid regional output slump

The Ivory Coast Coffee and Cocoa Council (CCC), the industry regulator, has seized 33 trucks carrying around 1,100 tonnes of smuggled cocoa beans at the border with Guinea, two sources close to the body revealed. The increase in smuggling reflects a difficult period for the region’s main producers, following poor harvests in both Ivory Coast and Ghana, which together represent the world’s largest suppliers of cocoa. Cocoa smuggling has intensified as global production has fallen significantly, leading to a supply deficit that has already reached its highest level in the last four years. This scenario has driven up cocoa prices and, consequently, chocolate on the international market. The impact is notable and affects the entire value chain, from farmers to end consumers. Ivory Coast and Ghana React: Increased Producer Prices In response to the shortage and market instability, Ivory Coast announced a 20% increase in the fixed price paid to cocoa farmers, bringing it to 1,800 CFA ...