The Ivorian Government is to subsidise coffee and cocoa exports for the 2023-24 and 2027 seasons.
This measure is intended to promote the emergence of national champions in the coffee and cocoa economy.
A decree granting the subsidy to national cocoa and coffee exporters was adopted on Wednesday, July 10, 2024, for the next four seasons, namely 2023-2024, 2024-2025, 2025-2026 and 2026-2027.
The Ivorian government spokesman, Amadou Coulibaly, said that the main aim of this provision was to “ensure the long-term competitiveness” of local exporters on the national and international markets.
The cocoa harvest in Côte d’Ivoire is forecast to be down by 20 per cent for the 2023/2024 season, with production expected to fall to 1.8 million tonnes, due to climate change and the swollen shoot disease.
Côte d’Ivoire is currently the world’s 15th-largest coffee producer and 4th-largest in Africa. In the 1970s, the country was the world’s 3rd-largest producer and Africa’s largest, with annual production of 400,000 tonnes.
AP/Sf/fss/GIK/APA