Post election chaos in the Ivory Coast is causing cocoa prices to surge as the market is worried imports might get hit.
Essentially, the country’s president, Laurent Gbagbo, has reappointed himself, according to The Guardian. He is not the election’s winner, however, as the opposition candidate Alassane Ouattara garnered 54% of the vote, a vote backed by UN observers.
Now there are riots in the country.
The world’s largest cocoa producer, Barry Callebaut, has factories in the country. It claims production has not been disrupted, according to Bloomberg.
Markets aren’t convinced, and cocoa prices have surged as a result.
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