Tag Archive: Ivory Coast
Chocolate Price Drop?
April 8, 2011
Good news. With the former president of Ivory Coast negotiating an exit strategy with UN authorities, it appears that chocolate prices may be headed down.
Cacao shipments from Ivory Coast had dropped to near zero after the election conflict in late 2010. That's a problem since the country supplies about a third of the world's supply. Because of the reduced supply, prices have been on pretty much a constant increase.
Now that a surrender is being negotiated, cocoa futures prices dropped immediately to the lowest point in the last three months. This is based on the speculation that the 350,000 tons of cacao held in Ivory Coast port warehouses would be released while the European Union removes its trade embargo.
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Disturbing Cacao News
December 28, 2010
The instability of the government has fostered an active smuggling operation of cacao out of Ivory Coast and into neighboring Ghana.
It is being speculated that many thousands of metric tons of cocoa beans have been smuggled to Ghana from Ivory Coast since the harvest began in October.
I recently read a Bloomberg article updating the situation in the Ivory Coast. To jog your memory, a recent blog post of mine titled, Two Presidents of Ivory Coast, introduced the political situation in the largest cacao producing African country of Ivory Coast.
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Two Presidents of Ivory Coast
December 10, 2010
The chocolate industries of the world have been watching the elections in Ivory Coast, Africa very closely. And the results are making some people nervous.
On December 4, 2010, both the incumbent and the challenger took the oath of office as president.
Laurent Gbagbo, the incumbent, was declared the winner by the Constitutional Council after rejecting the Electoral Commission’s vote count from the November 28 election. Gbagbo’s opponent, Alassane Ouattara, allegedly won the vote on that day but is accused of rigging the results in the northern states.
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