State ‘to control Ivorian cocoa’

Ivory Coast is the world’s biggest cocoa producer

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.

The UN-backed electoral commission says Mr Ouattara won presidential elections in November, but the Constitutional Council overruled it, citing rigging in the north.

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