Ivory Coast sells 900,000 tonnes of cocoa

Ivory Coast's Coffee and Cocoa Council (CCC) has sold around 900,000 tonnes of cocoa through export contracts for the 2019/20 season which begins in October, two sources at the industry's regulator said on Wednesday. CCC aims to sell about 1.6 million tonnes in total before the start of the next season, the sources said. CCC declined to comment.
CCC sold export contracts for about 200,000 to 250,000 tonnes between April 1 and 12, during which prices rose 3 percent, the sources said. The CCC is gradually switching from a system of daily auctions to selling cocoa directly to the world's top exporters, to harmonize its system with Ghana. More than 80 percent of export contracts for the 2019/20 season have been sold outside the auction system.