Cocoa Advances to 32-Year High on Ivory Coast Supply Concern
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Cocoa rose to the highest price since 1979 in New York on speculation escalating violence will limit supplies from Ivory Coast, the world’s largest producer.
The country’s ambassador to the United Nations appealed yesterday for stronger action by the peacekeeping mission in Ivory Coast to prevent violence. The nation is in the midst of a standoff as incumbent President Laurent Gbagbo refuses to step down in favor of Alassane Ouattara, the internationally recognized winner of a November election.