The Ivory Coast cocoa exporters, GEPEX, are seeking a meeting with the West African regulator, CCC, to discuss financial support to alleviate market disruptions caused by bean shortages.
Contracts between GEPEX and the Coffee and Cocoa Council (CCC) are delayed due to the lack of beans. The government’s decision to raise farmgate prices by 50% to 1,500 CFA francs per kg has posed challenges for exporters in obtaining beans at higher costs.
GEPEX has urged the CCC to reimburse the price hike and convene a meeting to address the issue. According to the exporters association, the postponed contracts could result in a loss of approximately 75 billion CFA francs ($123.41 million) with a volume of 150,000 metric tons.
The Coffee and Cocoa Council (CCC) has questioned the accuracy of exporters’ estimates, suggesting that they are lower than those provided by GEPEX.
