Ivory Coast Faces Standoff with Cocoa Buyers Over High Prices for 2024/25 Exports
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Ivory Coast struggling to sell cocoa export contracts for 2024/25 season as companies demand lower prices due to high global cocoa prices.
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Ivory Coast expects 25% drop in cocoa production for current season due to poor weather.
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Cocoa regulator refuses to lower "origin differential" premium paid for Ivory Coast's high quality cocoa.
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Exporters say cannot afford to buy 2024/25 contracts at current high prices without lower premium.
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Ivory Coast risks standoff with major cocoa buyers like Hershey, Nestle, Mondelez over unwillingness to cut premium.