Côte d'Ivoire – Ghana Cocoa Initiative
Initiative Cacao Côte d'Ivoire Ghana
Formation2018
HeadquartersAccra, Ghana
Executive Secretary
Alex Assanvo
Websitecighci.org
Logo

The Côte d'Ivoire – Ghana Cocoa Initiative (CIGCI) is a cocoa cartel set up by the presidents of the two countries to raise cocoa prices.[1] It has been widely referred to as COPEC, in reference to the oil cartel OPEC.[2][3][4]

The two countries jointly control 60% of global cocoa production. The cartel in 2019 demanded a $400 premium (corresponding to a 16% markup on the market price) from cocoa buyers called the Living Income Differential (LID).[3][5]

See also

References

  1. ↑ "Nigeria, Cameroon express further interest in joining Côte d'Ivoire – Ghana Cocoa Initiative". 2022-10-12.
  2. ↑ "Why the African cocoa cartel is a bad idea". The Economist. ISSN 0013-0613. Retrieved 2022-11-22.
  3. 1 2 Wexler, Alexandra. "Cocoa Cartel Stirs Up Global Chocolate Market". Wall Street Journal. Retrieved 2022-11-22.
  4. ↑ "Choc tactics: Ghana and Ivory Coast plot 'Opec for cocoa'". Financial Times. 2019-07-19. Retrieved 2022-11-22.
  5. ↑ "Implementation of Living Income Differential by Côte d'Ivoire and Ghana". 9 July 2019.
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