Cocoa Sales Resume in Ivory Coast After Regulator Drops Premium

Some traders have resumed buying cocoa from top grower Ivory Coast after the local regulator agreed to sell at par with global prices, a shift from a policy that led to a standoff with buyers and left hundreds of thousands of tons unsold.

Industry regulator Le Conseil du Cafe-Cacao allowed forward purchases from the smaller of the two annual harvests — which starts in April — without applying premiums intended to boost farmer incomes and account for quality, according to people familiar with the matter, who asked not to be named because the details are private.