Due to cocoa disease and unfavorable weather, exporters have encountered a scarcity of beans and are now seeking ways to purchase beans to fulfill their contractual obligations. Some suppliers have allegedly taken advantage of this situation, the sources explained to the media.
They also reported that suspended cooperatives and independent purchasers have accumulated over 60,000 tonnes of cocoa since the mid-crop began in early April.
The purpose of the suspension, which was mandated for some cooperatives to halt trade last week and for others to do so this week, is to prevent overpayment by smaller exporters while competing with multinational cocoa buyers.
According to the two CCC sources, the regulator is conducting an inventory of supplies.