October 1, 2014 / 11:39 AM / 3 years ago

Ivory Coast raises cocoa farmgate price to 850 CFA francs/kg

ABIDJAN, Oct 1 (Reuters) - Ivory Coast has set a guaranteed minimum cocoa farmgate price of 850 CFA francs ($1.63) per kilogramme for the 2014/15 main crop, up from 750 CFA francs/kg last season, a Coffee and Cocoa Council (CCC) board member and two exporters said on Wednesday.

"850 CFA francs is the price. In the end they decided to be prudent, even if we could have paid more," said the CCC official. He had earlier said the marketing board had proposed a range of prices between 850 and 900 CFA francs for the government's consideration. (1 US dollar = 520.9300 CFA franc) (Reporting by Ange Aboa; Writing by Joe Bavier; Editing by Bate Felix)

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