Warning for exporters as cocoa row deepens

Ivory Coast cocoa exporters have until the end of March to ship beans they have in stock and pay taxes, or risk seizure by the government of Laurent Gbagbo, the sector regulator said yesterday.

Anoh Gilbert had said earlier that there was no plan for now to seize the stocks as part of a decree under which the state would handle all exports of cocoa from the world's top grower.

Exporters had been concerned that the decree included seizure of about 475,000 tonnes of beans currently in storage, worth well over 1 billion at current market prices, near a 32-year high.

A power struggle following a disputed election has strangled the sector, leaving the cocoa in storage in the country.

France, Britain and the United States have all condemned Mr Gbagbo's move to control the sector as tantamount to theft.