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 Ivory Coast crisis: Gbagbo orders state cocoa control

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RR Phantom

RR Phantom

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Ivory Coast crisis: Gbagbo orders state cocoa control Vide
PostSubject: Ivory Coast crisis: Gbagbo orders state cocoa control   Ivory Coast crisis: Gbagbo orders state cocoa control Icon_minitimeMon Mar 07, 2011 7:15 pm
Ivory Coast's disputed President Laurent Gbagbo has ordered the government to take control of all cocoa purchases and exports.

A decree read out on state TV said the purchase from producers "will be undertaken exclusively by the state".

Alassane Ouattara, internationally recognised as president, earlier called for a temporary ban on exports to try to force Mr Gbagbo from power.

Ivory Coast is the world's biggest cocoa producer.

The country's industry accounts for 40% of global supplies and is currently dominated by multinational companies.

The price of cocoa has been trading at its highest levels for a year, as supplies have been strangled by recent sanctions and the near collapse of the banking system.

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