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Story summary
- Ivory Coast's government faces a cocoa crisis, with an estimated 200,000 metric tons of unsold cocoa expected by the end of March.
- The problem stems from setting farmer prices above world rates, making purchases unprofitable for traders.
- Many international traders halted purchases months ago.
- Ivory Coast recently sold 200,000 tons of its upcoming mid-crop, while local traders have defaulted on at least 100,000 tons of main crop purchases.
