State to control Ivorian cocoa

Ivory Coast strongman Laurent Gbagbo has ordered his government to take control of the country's cocoa purchases and exports, so far dominated by multinational companies, an official said.

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A decree read on RTI public television said that "the purchase of coffee and cocoa from producers and groups of producers will be undertaken exclusively by the state throughout" Ivory Coast.

"The export of coffee and cocoa products is undertaken by the state, by any entity mandated by the state or any authorised exporter," it said.

Alassane Ouattara, internationally recognised as the winner of Ivory Coast's disputed presidential election in November, last month extended a ban on cocoa exports, a cornerstone of the economy, to March 15.

The ban is part of a bid to pressure outgoing president Gbagbo to relinquish power by choking off his funding.

Ouattara had ordered a one-month halt to cocoa exports from Ivory Coast, the world's biggest producer of the commodity, on January 24.

Cocoa prices have risen almost 10 percent since he imposed the ban.

Ivory Coast has been divided since Gbagbo refused to step down after the November 28 poll that was won by Ouattara according to the country's election commission and the international community.

Ivory Coast accounts for 40 percent of global cocoa supplies, valued at $4.5 billion (3.3 billion euros) a year at current prices, according to London's Financial Times.


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Source: AFP

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