Cocoa, Chocolate Prices: Why Are People Smuggling Beans out of Ivory Coast?

Prices for cocoa on the global market have nearly tripled since 2023, but farmers in Ivory Coast have found it hard to cash in. The cocoa trade in the country is controlled by government-run regulator Conseil du Café-Cacao, which sets prices. The current price is about a third of the global market price, which has created a powerful incentive to smuggle crops into neighboring countries that don’t have the same central pricing. Bloomberg's Ondiro Oganga reports. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X:   / bloombergtv   Facebook:   / bloombergtelevision   Instagram:   / bloombergtv   Connect with Bloomberg Business on: X:   / business   Facebook:   / bloombergbusiness   Instagram:   / bloombergbusiness   TikTok: https://www.tiktok.com/@bloombergbusi... Reddit:   / bloomberg   LinkedIn:   / bloomberg-news   More from Bloomberg: Bloomberg Radio:   / bloombergradio   Bloomberg Surveillance:   / bsurveillance   Bloomberg Politics:   / bpolitics   Bloomberg Originals:   / bbgoriginals   Watch more on YouTube: Bloomberg Technology:    / @bloombergtechnology   Bloomberg Originals:    / @business   Bloomberg Quicktake:    / @bloombergquicktake   Bloomberg Espanol:    / @bloomberg_espanol   Bloomberg Podcasts:    / @bloombergpodcasts