Cocoa Market Report for September 2024
Abidjan, 21 October 2024 – The International Cocoa Organization releases the Cocoa Market Report for September 2024. The current report highlights the following insights:
- Cocoa prices made headlines during the 2023/24 cocoa year.
- While some farmers enjoyed higher revenues, those who operated in regulated markets such as the the Ivorian Conseil du Café-Cacao (CCC) and the Ghana Cocoa Board (COCOBOD) were unable to do so, as farm gate prices were fixed for the entire season.
- One should note that these institutions regulate their domestic market system with a self-financing price stabilisation policy, i.e., at no cost to the taxpayers, whose objectives are:
- to protect farmers from intra-season price volatility (i.e. establish a fixed farm gate price); and
- to give farmers a fair share of the price that buyers will pay to source beans from Côte d’Ivoire and Ghana (i.e. enforce the fixed farm gate price).
The September 2024 report retraces the steps used by the CCC and the COCOBOD to determine the fixed farm gate prices for the 2024/25 season.
Caution should be exercised in the interpretation of the following steps as they are just guidelines.
You can download the complete report by clicking here.
