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Story summary
- Cocoa prices have fallen sharply in West Africa as Ivory Coast cuts farm-gate prices by 60% following international prices that fell from over $12,000 to around $3,000 per tonne.
- Ghana previously reduced its farm-gate prices by 30%.
- In Cameroon, farm-gate prices plummeted 75% to 1,100–1,200 CFA francs per kilogram.
- Analysts warn of a global production surplus and weak demand, causing financial distress for farmers, with some abandoning cocoa for food crops.
