Cote d'Ivoire cuts cocoa farmgate price by nearly 60 pct amid global market slump

ABIDJAN, March 5 (Xinhua) -- The government of Cote d'Ivoire reduced the purchase price of cocoa from 2,800 CFA francs (4.97 U.S. dollars) per kg at the opening of the main crop season in October to 1,200 CFA francs (2.13 dollars) for the mid-season from March to August, a reduction of 57.14 percent.

Agriculture Minister Bruno Kone said at a press conference on Wednesday that the sharp cut, following the record