Côte d'Ivoire plans to increase its farmgate cocoa price for farmers by 39% to a record 2,500 CFA francs ($4.50) per kg for the main 2025/26 crop harvest, two sources at the cocoa sector regulator told Reuters on Monday.

The world's largest cocoa producer will begin its main crop season on October 1, with harvests expected to run until March 2026.

"The best price we can offer is 2,500 CFA francs/kg, and it's already an excellent price — a record for our cocoa producers," one person at the Coffee and Cocoa Council (CCC) said.

Côte d'Ivoire's agriculture minister is set to announce the proposed price at the season's launch on October 1.

Ghana raises farmgate cocoa price

"We initially thought we could offer more, but sales have been more difficult in recent months," the second CCC source said.

In August, neighbouring Ghana increased its farmgate cocoa price by 4% to an equivalent of about $5 per kg, which slightly surpasses Côte d'Ivoire's offering to farmers.

Cocoa output is expected to fall in the season, marking a third consecutive year of production decline, particularly of Côte d'Ivoire's main crop, which accounts for over 70% of its total output.

The declined cocoa output in Côte d'Ivoire and Ghana has been attributed to poor weather and the spread of swollen shoot disease, a virus that dries cocoa trees and reduces yields.

Exporters say the CCC has already sold over 1.15 million tonnes of cocoa bean export contracts, based on a forecast of 1.2 million tonnes, down 11.5% from last year.