![[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years](https://theafricanbusiness.com/wp-content/uploads/2023/02/TALA-APP-360x180.jpg "[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years 18")
Optimism rises for increased cocoa yield in Ivory Coast
After a prolonged dry season almost cast doubt over Ivory Coast’s ability to record good cocoa yields during the April-to-September mid-cropping season, heavy rainfalls last week have finally revived farmers’ optimism.
Similarly, the Western region of Daloa witnessed 77.1 millimetres of rain last week, even as the central region of Bongouanou received 43.8 millimetres of rain; all above the average levels previously recorded.
Many Ivorian cocoa farmers were excited to welcome the rainfalls, with one of them telling this to Reuters: “We are very happy. We weren’t expecting such rain now. We hope the mid-crop will have a good yield.”
Meanwhile, even though “everything is in place on the trees and the fruits are developing well,” as farmer Salame Kone said, others have also expressed concerns that the rains may not help to improve cocoa bean quality. And Business Insider Africa understands that exporters have been rejecting some deliveries because the prolonged dry season led to poor quality beans.
Like most countries in West Africa, Ivory Coast’s dry season starts from late November and ends early to mid March.
At 2,034,000 metric tonnes, the Francophone West African country is currently the world’s largest cocoa producer, according to World Population Review. Alongside Ghana which produces 883,652 metric tonnes, the two countries account for about 50% of the world’s cocoa output. This is why any developments that could affect output (either positively or negatively) are closely monitored.
The commodity is currently trading at $1.707 per ounce, according to Market Insider’s commodity price indicator.
