Reports say cocoa farmers in the West African country embarked on strike after buyers backed out on contracts to buy up to eighty percent of this year’s harvest.
The breach of contracts has cost the farmers huge financial losses, as hundreds of thousands of tonnes of cocoa beans are left rotting at the ports.
The crisis was triggered by falling international cocoa prices along with a rise in the local price of cocoa.
It may interest you to note that about six million people live off cocoa farming in Ivory Coast, which represents more than a quarter of the entire population of the country.
