Ivory Coast cocoa producers forecast a dip in 2007 exports

November 26, 2006 - 0:0
ABIDJAN (AFP) -- Cocoa producers in Ivory Coast, the world's top exporter of the bean, announced a difficult marketing 2006-2007 year which will translate into a fall in official exports due to weak purchase prices. Michel Yeoun, vice-president of the national association of cocoa producers Anaproci, said the new season "started with difficulty because of lack of financial resources and a very low purchase for the bean."

"To manage to export a million tons during this season would be a miracle," said Yeoun, whose association was behind the October producers' strike over cocoa prices.

"It is one of worst seasons," said Andre Dri, buyer in Niable east of Ivory Coast near the boarder with Ghana.

The peak harvesting season from October to the end of December, provides more than 80 percent of production and was in recent years hovering around a million tons.

The previous 2005-2006 production realized a national output of 1,4 million tons, of which 1,33 were exported, against 1,3 million during the 2004-2005 period.

Ivory Coast cocoa producers went on strike last month protesting low purchase prices of the bean but called it off with their key demands not met.

Cocoa accounts for 40 percent of export revenues for the west African country, or about 20 percent of gross domestic product (GDP).

The International Monetary Fund puts the GDP at some 8,000 billion CFA francs (15.3 billion dollars, 12.2 billion euros).

The commodity directly or indirectly provides a living for about six million of 16 million people.

Ivory Coast produces 40 percent of the world cocoa exports, but experts say between 200,000 and 300,000 tons are smuggled out of the country every year, especially in recent years, to neighboring countries, including Ghana, the second leading producer after Ivory Coast.