Statement on the joint Floor Price and Living Income Differential (LID) of Côte d'Ivoire and Ghana

The German Initiative on Sustainable Cocoa (GISCO) considers the new initiative of the Ivorian and the Ghanaian government for a minimum price for cocoa producers as an important step towards a living income.

In early July, the governments of Côte d’Ivoire and Ghana announced the implementation of a new mechanism for a guaranteed minimum price for cocoa producers. The mechanism envisages a living income premium of USD 400/ton cocoa beans to be paid on top of the prevailing cocoa market price. This differential will be used to guarantee a minimum price that corresponds to USD 1,820/ton at Farm gate level (70 % of 2,600 USD/ton at FOB-level) for the cocoa producers in both countries.

The statement can be found here.