Côte d’Ivoire freezes 2023-2024 cocoa exports due to bad weather

The world’s largest producer of cocoa, Côte d’Ivoire, has suspended its 2023-2024 exports citing bad weather that has caused the death of at least 30 people since April 2023.
Yves Brahima Koné, head of the country’s cocoa regulator, told media that the freeze will deal a blow to buyers who are big raw materials trading houses like Cargill and Olam, and chocolate makers like Barry Callebaut, Hershey and Nestlé.
The country, Kone stressed, before the freeze, exported more than million tons of cocoa seeds.
Harvests of the crop have started and shipments to the country’s ports should start by October, Kone also said, adding that yields are expected to dwindle significantly.
“We hope that production from January to March 2024 will balance our volumes, otherwise it will be a problem. We stopped sales a few days ago because we’re not sure we have enough volume to cover demand,” Head of the regulator said.
The West African country has witnessed bad weather; torrential rains that have battered several regions including economic capital Abidjan. At least 30 people have died.