INTRODUCTION Members of the Cocoa Producers' Alliance have decided to ask more for their commodity.?
GV EXTERIOR Ship at quayside.
SV AND CU Sacks of cocoa beans on lorry. (2 shots)
SV Forklift truck carrying sacks of beans.
GV Sacks being loaded on to ship.
GV TILT DOWN EXTERIOR Conference centre with flags flying. (2 shots)
SV INTERIOR Delegates taking seats.
SV Ivory Coast Minister of Agriculture Mr. Abdoulaye Sawadogo takes seat.
SV Brazilian delegates seated along with Nigerians.
The Ivory Coast is the world's third leading cocoa producer after Ghana and Brazil. With a new storage factory opening in Abidjan last month it could become number one. The country is also Africa's largest coffee producer. The world prices of coffee have been driven up by crop failures in Brazil and Colombia. With the prices on the London coffee market nearly four times what they were two years ago -- the Ivory Coast is gaining most. In the U.S.A., soaring retail prices of coffee has led to a consumer boycott campaign.
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Background: INTRODUCTION Members of the Cocoa Producers' Alliance have decided to ask more for their commodity. At a meeting in Abidjan, the capital of the Ivory Coast, on Friday (25 February) representatives of eight countries found the terms of the present international agreement on cocoa prices unsatisfactory.
SYNOPSIS: The eight countries accounting for over 80 per cent of the world exports of cocoa are Brazil, Cameroun, Ivory Coast, Ecuador, Ghana, Nigeria, Gabon and Togo. The Ivory Coast's development has been based mainly on exports of coffee and cocoa. Under the present International Cocoa Agreement signed between the producers and consumer countries in October last year the price of cocoa paid to the growers should not exceed 0.35 pence sterling ( 55 US cents) per pound.
But most of the producers' countries are committed to developing cocoa and have undertaken loans for investment. This is why it was agreed in Abidjan that these investments should be assured of profitability by viable guaranteed price. A new round of talks within the International Cocoa Agreement group will open next month in London to decide on the new prices.
Mr. Abdoulaye Sawadogo, the Ivory Coast Agriculture Minister, was quoted by Reuters news agency as saying that the West African main cocoa crop has been retarded by cool weather. He saw the cocoa shortage, which has already caused steady rise in the commodity prices on both the London and New York markets, lasting for at least two years.