Ivory Coast Cocoa Shippers Pessimistic As Crisis Deepens[/U
DJ Ivory Coast Cocoa Shippers Pessimistic As Crisis Deepens
8:29 AM, January 18, 2006
ABIDJAN (Dow Jones)--Cocoa exporters in Ivory Coast said they were
pessimistic about the short-term future of the world's top cocoa grower, which
has been paralyzed by angry mobs since Monday.
"It's not looking very good," said one exporter, talking from his Abidjan
home.
"All depends on how the U.N. and Unicorn are going to respond," he said,
adding he had no immediate plans to leave the country.
Unicorn is the code name for the 4,000-strong French military presence in
Ivory Coast, who act as a rapid intervention force to back up the 7,000 U.N.
peacekeepers.
The ruling FPI party and militant youth movements close to it have been
protesting against what FPI leader Pascal Affi N'guessan called "the
recolonization" of the country, spearheaded by the U.N. and France.
Exporters fear a repetition of events in November 2004, when mobs attacked
foreign, mainly French, homes and businesses and 8,000 expatriates were
evacuated.
"I can't help thinking of the worst case scenario. That is that hundreds
storm and loot my home," said an exporter based in the southwestern port of San
Pedro.
Another exporter said he was worried the U.N. and French troops would be
unable to contain mobs throughout the city.
A person close to U.S.-owned ADM said its Ivory Coast staff had been
evacuated already to Abidjan. France's Bollore earlier this week evacuated its
French employees to Lome, Togo.
SAGA, the leading French-owned transit and handling company at the ports,
said it was talking to parent company Bollore about evacuating expatriates.
-By Vincent t'Sas; Dow Jones Newswires; +225 22416436;
vincent.t'sas@dowjones.com
