Raw cocoa bean exports from Ivory Coast reached 1.011 million metric tons by February 20, marking a 2.8 percent decline compared with 1.040 million metric tons exported over the same period last year, according to two government officials and a source at the Coffee and Cocoa Council (CCC).
The modest drop reflects a slowdown in cocoa arrivals at ports in recent weeks, as falling global prices dampened market momentum in the world’s top cocoa-producing nation. Despite the dip in arrivals, officials said export flows have remained relatively stable, suggesting that previously accumulated stocks have continued to move through the system.
Ivory Coast’s cocoa sector is central to its economy, accounting for a significant share of export revenues and providing livelihoods for millions of farmers. The country, alongside neighbouring Ghana, produces roughly half of the world’s cocoa supply, making developments in the two West African nations critical to global markets.
Both countries are currently facing mounting inventories from the main crop harvest. Unsold beans have piled up inland and at port warehouses in recent months, reflecting weaker international demand and a sharp correction in world prices.
“We’ve had nothing but bad news, but one hopes that all this will soon be behind us,” one government official said, capturing the cautious sentiment prevailing within the sector.
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Global cocoa prices have fallen approximately 50 percent since the start of the year, hitting a near three-year low earlier this week. The decline marks a dramatic reversal from the previous year, when adverse weather, crop disease and supply constraints pushed prices to historic highs. The subsequent price slump has been attributed to improved supply prospects, subdued demand growth and the build-up of stocks at major export hubs.
Market participants say the accumulation of beans at ports has weighed on prices, as buyers hold back in anticipation of further declines. The price correction has created uncertainty for producers, many of whom had benefited from earlier price spikes but now face tighter margins.
While export volumes have so far remained close to last year’s pace, analysts warn that sustained low prices could eventually affect farmer incentives, production decisions and the financial health of the sector. Cocoa farming remains the backbone of rural economies in Ivory Coast, supporting incomes across vast agricultural regions.
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The Coffee and Cocoa Council, the sector’s regulator, plays a key role in stabilizing the market by setting farmgate prices and managing export contracts. Authorities are expected to monitor global price movements closely to mitigate the impact on producers and maintain stability in export earnings.
For Ivory Coast, cocoa is more than just a commodity; it is a strategic pillar of national development. The government has in recent years sought to promote local processing and value addition to reduce dependence on raw bean exports. However, international price volatility continues to shape the sector’s outlook.
Despite the current downturn, some market observers believe the correction may help rebalance global supply and demand over time. For now, the focus remains on clearing accumulated stocks and restoring confidence in the market.
With exports just slightly below last year’s levels, Ivory Coast’s cocoa sector remains resilient, but the sharp drop in global prices underscores the fragility of commodity-dependent economies in the face of volatile international markets.
