Ivory Coast Cocoa Regulator to Implement Sector Reform, Eliminating Middlemen – Reuters
Reuters exclusively reported that Ivory Coast’s cocoa regulator plans to implement a reform of the domestic cocoa marketing system, eliminating middlemen within a year to prevent risk and overpayment. The reform will rely on Ivory Coast’s new cocoa traceability and certification system, which will digitize payment for all cocoa bean sales or purchase transactions from the farmer to the exporter.
Analysis:
This article discusses Ivory Coast’s plan to reform its cocoa marketing system by eliminating middlemen, which could have a significant impact on the cocoa industry in the region. By streamlining the process and digitizing payments, this reform aims to reduce risks and ensure fair transactions for both farmers and exporters. This development could potentially lead to more transparent and efficient cocoa trade, benefiting stakeholders in the supply chain and shaping the future of cocoa production in Ivory Coast.
