Côte d’Ivoire Produces Cocoa, Yet Multinationals Set Prices—Experts Propose Solution to Paradox
Côte d’Ivoire Produces Cocoa, Yet Multinationals Set Prices—Experts Propose Solution to Paradox
Despite supplying 40% of the world’s cocoa, Côte d’Ivoire—like other African producers—has little control over pricing and bears the brunt of volatile international markets.
Speaking to Sputnik Africa, Ivorian economist Prince Beganssou emphasized a key solution: developing local processing infrastructure in Côte d’Ivoire before export. Without this step, the country remains exposed “to the dictates of international firms that impose their prices on us.”
For his part, economic analyst Jean Louis Gbangbo stressed the importance of cooperation among producers. He pointed to the Côte d’Ivoire–Ghana Cocoa Initiative as an example of producer solidarity.
Through this alliance, it becomes possible to “pressure exporters or major multinationals to enforce a decent income differential,” according to the speaker.
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