Ivorian farmers demand transparency over cocoa buyback

Ivory Coast cocoa producers have called for greater transparency over the government’s 291 billion CFA francs cocoa buyback programme, saying key questions about the use of the funds remain unanswered

Ivory Coast cocoa producers have called for greater transparency over the government’s 291 billion CFA francs cocoa buyback programme, saying key questions about the use of the funds remain unanswered. Bilé Bilé, president of the National Confederation of the Agricultural World of Côte d’Ivoire (CNMA-CI), urged farmers to remain patient, expressing hope that President Alassane Ouattara would address their concerns during his Independence Day address.

The producers are questioning the management of funds allocated to purchase 123,000 tonnes of residual cocoa stock. According to Bilé, only 23,000 tonnes have been bought so far, leaving about 100,000 tonnes still outstanding. He called on the government to explain who would purchase the remaining cocoa and where the funding would come from. Bilé said cocoa, coffee, rubber and oil palm farmers remain vital to the economy but deserve greater recognition and support. He urged producers to await the government’s response while maintaining confidence in the process.

The buyback programme was launched after a more than 70% drop in cocoa prices caused exporters to suspend purchases, leaving thousands of farmers unable to sell their harvests at the government’s guaranteed price. The government identified 123,000 tonnes of unsold cocoa in January, with about 102,000 tonnes earmarked for the buyback after some stocks were later purchased by exporters.

The Nigerian stake is clear. Nigeria is also a cocoa producer, and the Ivorian buyback programme has implications for the global cocoa market. If the programme is not fully implemented, it could create uncertainty in the market, affecting Nigerian farmers.

From a Nigerian vantage point, the Ivorian situation is a reminder of the importance of transparency and accountability in government programmes. The lack of clarity around the buyback programme has eroded trust among farmers, and the government must act to restore confidence.

This echoes the 2021 Ivorian cocoa sector reforms, which also faced transparency concerns. The mechanism then was different, but the result was the same: a focus on the need for accountability in the cocoa sector.

The winners: Ivorian farmers, if the government clears the remaining stocks; and the Ivorian economy, which benefits from a well-functioning cocoa sector. The losers: the Ivorian government, which faces pressure to act; and the Nigerian government, which must ensure that its own cocoa sector is transparent.

Bottom Line: Ivorian farmers are demanding transparency over the cocoa buyback programme. The government has bought only 23,000 tonnes of 123,000 tonnes. The question is whether the remaining stocks will be purchased or left to rot.