At a time when global cocoa prices are plummeting, Ivory Coast is considering implementing quarterly price assessments.

Ivory Coast is considering quarterly evaluations of its domestic cocoa prices to adapt to the huge downturn in the international market and maintain the competitiveness of its cocoa beans. Reuters cited sources familiar with the discussions as saying that more frequent adjustments will increase flexibility and better align this largest global producer with the global market. More frequent evaluations will help alleviate the burden on the Coffee Cocoa Council. The committee is facing immense pressure as it has had to use over 280 billion West African francs from its fund to purchase unsold cocoa beans from farmers and store them in warehouses.