Cocoa price soars
After the president-elect of Ivory Coast, Alassane Ouattara, announced an export ban on cocoa on 25 January, its cost per tonne jumped by 6.2% to $3,393.
Print14 February 2011
The price of cocoa hit a new one-year high last month after the president-elect of Ivory Coast announced an export ban.
Alassane Ouattara, the internationally recognised winner of last November’s presidential election, announced a one-month suspension on exports of cocoa on 25 January in order to force the incumbant leader, Laurent Gbagbo, out of office.
Ivory Coast is the world’s largest supplier of cocoa, contributing around 40% of global output. On the morning the ban was announced the cost of a tonne of cocoa jumped by 6.2% to $3,393 (€2,485), the highest level since January 2010.
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