Cocoa price floor of $2,600/T lacks support of other growers

LAGOS: A cocoa price floor of $2,600 per tonne agreed by Ivory Coast and Ghana with buyers for the 2020/21 season lacks the support of other producing nations, vice president of the World Cocoa Producers Organization said on Friday.

Sayina Riman, who doubles as president of the Cocoa Association of Nigeria, said the decision by the two countries was taken without consulting other growers. Nigeria is the world's fourth-biggest cocoa producer.