Ivory Coast Bans Cocoa Exports

Ivory Coast president Alassane Ouattara has banned exports of cocoa for a month.

The ban is expected raise global cocoa prices due to the disruption in supply.

The price of cocoa in the Ivory Coast is close to its highest level in nearly 30 years and has recorded a 14% increase since November 2010.

The move comes after a disputed election that has resulted in a power struggle in the country.

Ivory Coast produces nearly one-third of the world’s cocoa.