Mars Supports Cocoa Floor Price

Chocolate manufacturer Mars Inc. has expressed its support for a cocoa floor price recently announced by the Ivory Coast and Ghana.

In June the two countries agreed to a minimum price of $2,600 per tonne for the 2020/21 season. However, it was unclear whether chocolate companies would be willing to pay the price. Mars are the first major player to publicly support the price.

Between them Ivory Coast and Ghana are responsible for 60 per cent of the global supply of cocoa.