Due to the significant increase in consumption of cocoa products, Cote d’Ivoire, known as the world’s largest cocoa producer, approached India with a proposal to source cocoa directly from their country. Is.
He plans to send a high-level delegation to India in the coming month to hold talks with the Indian government and potential partners and investors, particularly in the processing and value-added segments of the cocoa industry within his country.
Despite producing a substantial 2-2.2 million tons of cocoa, which is 45% of the total world cocoa production of 5 million tons, Ivorian cocoa farmers are not reaping the expected benefits.
In an effort to capitalize on its important cocoa production status, Côte d’Ivoire has decided to explore direct marketing of cocoa.
However, the farm gate price of 1,000 francs issued by the cocoa regulator on September 30 is still considered low, especially when compared to global cocoa prices.
The cocoa trade has traditionally been dominated by established players, and these institutions often enjoy a large share of the profits.
Therefore, Côte d’Ivoire is now focusing on promoting cocoa processing to increase the value of the product before selling it. They are actively working to establish partnerships and processing facilities to achieve this goal.
Yves Brahima Kone, managing director of the regulator, said during the International Exhibition of Agriculture and Animal Resources (SARA) that he will visit India in November to meet with potential partners and government officials to discuss direct marketing of cocoa. Intend to visit.
It aims to market cocoa products or semi-finished goods, thereby generating more revenue for the country.
Regarding higher import duties on cocoa in India, this is expected to be a topic of discussion during their upcoming talks. The Ivorian regulator believes that these discussions will result in a mutually beneficial situation for both countries, increasing cocoa trade and potentially leading to better returns for Ivorian cocoa farmers while India’s Cocoa demands will be met more efficiently.
First Published: 03 Oct 2023, 10:44 IST
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