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Vol 52 No 3

Published 4th February 2011

Côte d'Ivoire

Cocoa ban may hit Gbagbo's war chest

Around 40% of the world's cocoa is grown in Côte d'Ivoire and the market is in confusion as a result of the reigning political paralysis. The harvests, though, are large and speculation is more likely to affect prices in coming months than shortages or surpluses. Since 23 January, cocoa exports have largely stopped after the internationally acknowledged presidential election winner, Alassane Dramane Ouattara, demanded a month-long ban on exports. He did not call for an indefinite ban so as not to affect farmers too much and in the hope that the political impasse may be resolved by then. Six major exporters are respecting the ban and cocoa is piling up at the ports of Abidjan and San Pedro.

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