Ivory Coast’s Coffee and Cocoa Council (CCC) regulator seized 33 trucks carrying around 1100 tonnes of smuggled cocoa beans at the Guinea border.
This large-scale smuggling incident highlights the ongoing challenge Ivory Coast faces, as it battles against illegal cocoa trading amidst a regional production crisis.
Reports indicate that cocoa smuggling in the region has been fueled by a supply deficit, pushing global cocoa prices to rise significantly. Ivory Coast presently has marked fixed farmgate to 20% as paid to farmers, now offering 1,800 CFA francs ($3.09) per kilogram.
The smuggling of cocoa has become more rampant as traders seek higher prices in neighboring countries. This particular seizure is seen as part of a broader effort by the Ivorian government to stabilize the market and prevent further losses to its cocoa industry.
