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Find all the economic and financial information on our Orishas Direct application to download on Play StoreIn 2019, the global chocolate market was valued at $130.56 billion in 2019 and is expected to reach the $187 billion mark within five years. However, until now, producers are still at less than 6% of the chocolate industry's revenues.
The standoff over the taxation of purchase prices is nothing new between producer countries and large multinational trading companies. This was a commitment by the Ivorian president during his first election in 2010. According to one of Ouattara's ministers of opinion, “President Alassane Ouattara is not going to let go. He absolutely wants traders to respect the cocoa sales price set by the State [indicative price].”
So, in order to improve the income of their farmers, Côte d'Ivoire and Ghana provided 63% of world production in autumn 2020 and wanted to impose a premium of $400 dollars per ton of cacao beans to buyers. However, they blithely circumvented this floor price, set at $1.36 per kilo in Côte d'Ivoire and $1.25 in Ghana.
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