Ivory Coast has sold 900,000 T of 2019/20 cocoa export contracts

ABIDJAN: 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.