The Ivory Coast’s president-elect, Alassane Ouattara, has put in place a one month stoppage of all cocoa exports out of the country, according to The Telegraph.Ouattara’s move comes as he continues to try to wrestle power from current president Laurient Gbagbo, who is refusing to step down.
One of Ouattara’s officials says all exporters have agreed to the one month ban, according to Bloomberg.
With the Ivory Coast a major exporter, the impact is likely to be a sharp increase in cocoa prices on Monday.
There has already been a significant run-up in prices since the election.
Business Insider Emails & Alerts
Site highlights each day to your inbox.