The Cocoa Crisis in Ivory Coast: President Ouattara's First Major Economic Challenge

Cocoa beans that are no longer being harvested and sacks piling up in warehouses. For several weeks now, Ivory Coast has been facing significant challenges in selling its cocoa stocks, which have become less attractive due to falling global prices. This is a major issue for the West African country, the world's leading exporter, accounting for 45% of global production.

To resolve the situation, the government committed on Tuesday to buy back the unsold stocks. However, disagreements remain about the volumes involved, and unions accuse the government of downplaying the crisis.

High Prices and Declining Global Prices

To protect its farmers, Ivory Coast sets the selling price of cocoa beans. This price is established every year in October by presidential decree for a period of one year, with adjustments made each quarter. In 2025, it reached an all-time high of 2,800 CFA francs per kg (4.3 euros), representing a 56% increase compared to 2024.

However, alongside these high prices, global cocoa prices have dropped by a third in value (from $6,500 to $4,500 per ton). This decline is due to higher-than-expected production, linked to favorable weather conditions and a marked decrease in global consumption. As a result, sales are stagnating. Cocoa is struggling to find buyers and is stuck in vast warehouses.