Coronavirus in Ivory Coast: the government on the front to support its cocoa sector

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The state subsidy of 35 CFA francs per kilo of cocoa will be capped at 50,000 tonnes per operator and per campaign. The Ivorian authorities will also set up a fund to boost investments, which will be endowed with 10 billion CFA francs. Measures to avoid bankruptcies.

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The boost from the Ivorian government will be in the form of a subsidy of 35 CFA francs per kilogram of beans. Capped at 50,000 tonnes per trader, it therefore represents a total of 1.75 million CFA, or 2,500 euros per trader and per campaign.

Knowing that the measure concerns the cocoa growing seasons 2019 to 2022, the authorities estimate that this subsidy will allow the 15 national export companies, members of the grouping of Ivorian traders (GNI), to face competition from multinationals. This support will "  guarantee their competitiveness in the sector,  " according to Sidi Touré, the government spokesperson.

A fund of 15 million euros

Another measure to support the sector: the creation of a fund of 10 billion CFA francs, or more than 15 million euros, to support investment in cocoa processing. The GNI Secretary General welcomed these measures. According to Constance Kouamé, they will allow national operators "  to continue to exist and to make their activities prosper  ".

Two months ago, the GNI denounced “  the unfair competition from multinational chocolate companies  ” and sounded the alarm on the risk of the bankruptcy of several national traders.

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• Ivory Coast
• Economic crisis
• Agriculture and Fisheries

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