Top Cocoa Growers Yet to Reach Deal Amid Price Plan Changes

The world’s largest cocoa growers failed to reach an agreement with traders and chocolate makers on a new pricing system after making changes to a plan presented in June.

Industry regulators from Ivory Coast and Ghana told cocoa buyers at a meeting in Abidjan on Wednesday that they seek a premium of $400 per ton over the futures market as a so-called living-income differential, Fiifi Boafo, a spokesman for Ghana Cocoa Board, said by phone on Thursday. The regulators previously proposed a differential that will apply proportionally when prices fall below $2,600 per ton.

Source: https://www.bloomberg.com/news/articles/2019-07-04/top-cocoa-growers-yet-to-reach-deal-amid-changes-to-price-plan?utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-twitter-business&utm_content=business&utm_source=twitter

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