High prices, bad quality slow down Ivory Coast cocoa purchases

ABIDJAN, Oct 19 (Reuters): Cocoa purchases in Ivory Coast have stalled at the start of the 2025/26 season, as a record farmgate price and poor-quality stocks deterred buyers and exporters, industry sources told Reuters.

The world's top cocoa producer raised its state-guaranteed price to 2,800 CFA francs ($5.05) per kilogram on October 1, a level traders described as unusually high.

The increase has discouraged exporters from providing funds to buyers to facilitate purchases, sources said.

"This year, no funding has been provided, as was usually the case in August and September," said a Lebanese buyer based in the southwestern port of San Pedro.

He added that banks were also reluctant to provide financing because the risk was too high in the event of a disaster.