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  • Oct 26th, 2005
  • Comments Off on Ivorian cocoa exports frozen as tax row continues
Cocoa exports from the Ivory Coast were set to remain frozen for the coming days as disagreements within the government continued over new taxes and levies for the 2005/2006 season, a source said on Monday.

Exports of cocoa from the world's top producer have been suspended since the October 1 start of the new season because a new tax package has not been approved.

An agreement had been expected on Friday but was blocked by a disagreement between ministers over whether or not to suppress contributions to a prudential reserve - a savings fund to guard against fluctuations in world cocoa prices.

Apart from this levy, all of the other categories in the tax package appeared to be decided. The main export duty DUS was expected to remain unchanged at 220 CFA francs ($0.404) per kilo.

"It is likely that we will have a table for the new taxes by Wednesday," said one party to the discussions, who asked not to be identified.

Copyright Reuters, 2005


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