Ivorian banks are refusing to finance
purchases of cocoa beans by some local exporters until they are
guaranteed repayment of 160 billion CFA francs ($279 million) of
debt from failed export giant SAF-Cacao, banking and industry
sources told Reuters.
Ivory Coast is on track for a record cocoa harvest in the 2018/19 season of 2.2 million tonnes, up from about 2 million tonnes last season, due to favorable weather and new plantations, farmers, exporters and middlemen said on Wednesday.
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