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.
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