Ivory Coast nationalizes the cocoa and coffee trade

The world price of cocoa rose on Tuesday near its 32 years peak, after cocoa trade was nationalized in Ivory Coast, which is the biggest producer of the world.

The measure was ordered by Laurent Gbagbo, failing President of the African country, hit by bloody political crisis. After the export ban imposed, the largest European chocolate manufacturers tried to ensure their customers that the prohibition does not pose an immediate threat to supply even with the coming of the Easter holiday season – reports Privatbankar.hu.