The minimum level of cocoa prices in the amount of $ 2,600 per ton, agreed by Côte d'Ivoire and Ghana with buyers for the 2020-2021 season, does not enjoy the support of other producing countries, the vice president of the World Organization of Producers said on Friday, June 21. Cocoa Sayina Riemann.

Sayina Riemann, who is also the president of the Nigeria Cocoa Association, said the two countries made this decision without consulting other manufacturers.

In a statement, Riemann said that $ 2,600 per tonne is better than price fluctuations, which can sometimes fall below $ 1,500, but that the agreed minimum level is still lower than the one that should be based on production costs.

“We were negotiating with customers to get a reasonable price for cocoa beans, but this cannot be done without the participation of other interested parties in the value chain,” said Riemann.

Riemann also said that other manufacturers are consulting and in a few days will come to a common position on developing a minimum price. And this issue should also be discussed at the next meeting of the International Cocoa Organization (ICCO), which will be held in September in Côte d'Ivoire.