00:00Ivory Coast will buy the entire volume of cocoa stockpiled by the country's cooperatives
00:05in order to ensure producers are paid.
00:08The news comes as cocoa fell to its lowest price in two years.
00:13The cocoa industry accounts for 14% of Ivory Coast's GDP,
00:17but slowing exports have left stocks piling up.
00:21Now the government is stepping in.
00:24The chosen strategy is simple and effective.
00:30The government will primarily rely on credible, solid and structured national operators
00:37who will conduct purchasing and collection operations in collaboration with their traditional partners,
00:43notably shredders, multinationals and international exporters.
00:51Ivory Coast is the world's largest cocoa producer
00:54and one in five people in the country relies on the industry to make a living.
01:00In the last year, the price of cocoa has fallen by about $5 a kilo.
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