Ivory Coast, the world’s largest cocoa producer, has announced plans to buy its entire unsold cocoa stockpile in an effort to stabilize the market and support farmers facing a buildup of beans that have not yet been sold. The government’s move comes as global cocoa prices fluctuate and supply chains remain uncertain, leaving a growing amount of harvested cocoa sitting in storage.
By purchasing the unsold beans, authorities hope to prevent prices from collapsing and ensure that farmers receive fair payment for their crops. This initiative aims to protect smallholder farmers, who rely heavily on cocoa as their main source of income, from financial losses caused by market instability.
The decision reflects broader concerns in the cocoa sector about balancing production with demand. Officials believe that managing surplus stocks is crucial for maintaining market stability and avoiding negative impacts on both local and global cocoa prices.
In addition, the government sees the buy‑up as a way to bolster confidence in the country’s cocoa industry. By taking proactive steps, Ivory Coast is aiming to strengthen its role in the global cocoa market and demonstrate resilience as it adapts to changing economic conditions and international demand.