ABIDJAN: Ivory Coast fixed its government-guaranteed cocoa farmgate price at 700 CFA francs ($1.37) per kg for the April-to-Sept mid-crop harvest, down from a main crop price of 725 CFA francs per kg, the head of the country's marketing board said on Friday.
"The guaranteed cocoa price is 700 francs per kilogramme," Lambert Kouassi Konan, chairman of the Coffee and Cocoa Council, told journalists in the commercial capital Abidjan.
The world's top cocoa producer also fixed a cost, insurance and freight (CIF) export price of 1,157 CFA francs/kg and a maximum bean count the measure of bean size - of 120 beans per 100g for the mid-crop.
Mid-crop beans are typically smaller and of lower quality than those produced during the October-to-March main crop harvest and, therefore, fetch a lower price on the international market.
Ivory Coast forward sold the bulk of its 2012/13 harvest in order to introduced a guaranteed price for farmers at the start of the season in October, part of a sweeping reforms that ended more than a decade of sector liberalisation.
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