RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Ivory Coast crisis: Gbagbo orders state cocoa control Mon 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.
ANCAPS: ANARCHO-CAPITALISTS |
|