Abidjan: Ivorian President Alassane Ouattara announced on Wednesday that the guaranteed minimum price for local cocoa beans will rise to 2,800 CFA francs (5 U.S. dollars) per kilogram, marking a historic high for the world's leading cocoa producer. The announcement was made during the opening ceremony for the 2025-2026 cocoa marketing season held at the Abidjan exhibition center. The president emphasized that the price setting aligns with the commitment to prioritize producers within national policy.

According to Namibia Press Agency, the price increase also applies to coffee, which will see a rise to 1,700 CFA francs for the 2025-2026 season, up from 1,500 CFA francs in the previous season. Cote d'Ivoire, recognized as the world's leading producer and grinder of cocoa beans, contributes nearly 40 percent to global cocoa production, with an output of about two million tons of beans.

President Ouattara highlighted that the cocoa price was 1,000 CFA francs in 2023, increasing to 1,800 CFA francs in October 2024 and then to 2,200 CFA francs in April 2025. The coffee-cocoa sector is significant for the country's economy, contributing 20 percent to the gross domestic product (GDP) and accounting for 40 percent of export earnings.