For context, the farmgate price has climbed dramatically over the past two years. The elevated price has fueled concerns over potential smuggling with neighboring Ghana, where farmgate prices remain lower. The European Cocoa Association warned of “great uncertainty” for supply chains as companies navigate the extended transition period. The convergence of high Ivorian farmgate prices and European regulatory delays creates particular challenges for sustainability-focused buyers. For cocoa markets, attention will focus on cross-border flows, futures price movements and processing data to gauge how the record Ivorian farmgate price affects actual trade patterns.