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.