Dec 15, 2017 Last Updated 11:51 AM, Dec 14, 2017

Ivory Coast president sets cocoa target

cocoa-beanABN – Ivory Coast president Alassane Outtara has said he aims to boost the country’s cocoa production so that by 2020 it produces half the global supply.

In an interview with Bloomberg he said there was “no limit” to boosting cocoa production, and that farmers will continue to “improve the quality” while increasing output.

It is not too great an ambition, considering that Ivory Coast produces about 45% of the world’s cocoa already.

In the 2014-15 season the country produced a record crop of approximately 1.8 million tons.

President Outtara also said he would not make the mistake of overwhelming the country with debt in order to sustain growth, as has happened elsewhere in Africa.

Under Outtara’s presidency, Ivory Coast’s economy has expanded at almost 10% this year.

@ABNetworkOnline

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