Côte d’Ivoire, the world’s top cocoa producer, has rolled out an emergency cocoa buyback scheme as falling global prices and port bottlenecks threaten the country’s cocoa farmers.
With beans piling up in cooperatives and exporters pulling back, the government has stepped in to keep the supply chain moving and farmers paid.
Officials say shipping delays at Abidjan’s port and liquidity shortages have stalled payments across the market, threatening livelihoods in a sector that millions depend on. Under the plan, the Coffee and Cocoa Council will spend about $510 million to purchase up to 100,000 tons of cocoa by the end of March.
By guaranteeing the official farmgate price, authorities hope to avert a social crisis while positioning the stockpile for export once demand rebounds.