The International Monetary Fund confirmed on Sunday that a staff team will visit Ghana this week to continue discussions with the authorities on policies and reforms that could be supported by an IMF lending arrangement. Ghana turned to the IMF for help in July as its balance-of-payments deteriorated and hundreds took to the streets to protest against economic hardship. An IMF staff team briefly visited the country two weeks later.
Above-average rain across most of Ivory Coast's cocoa-growing regions last week could cause disease and damage the first beans of the October-to-March main crop in some areas, farmers said on Monday. The world's top cocoa producer is in the midst of a rainy season that runs from April to mid-November, when rains are abundant and often heavy. Several farmers said timid main crop harvests had started and would pick up next month.
Ivory Coast's Coffee and Cocoa Council (CCC) has sold 25,000 tonnes in cocoa export contracts to global commodities trader Cargill Inc with a positive origin differential for the 2023/24 season, sources at the CCC and Cargill told Reuters. The origin differential is a premium traders pay for cocoa beans from Ivory Coast and Ghana, the world's biggest producers. "On Friday we bought 25,000 tonnes with the CCC for the next season (2023/24), showing our commitment to support producer countries in their efforts to offer a decent price to farmers," a Cargill source said on condition of anonymity.