Ivory Coast Increases Fuel Prices by as Much as 44%

Ivory Coast, the world’s biggest cocoa producer, raised fuel costs by as much as 44 percent, prompting concern from a labor union that growers may be forced to cut prices of the crop.

The price of diesel will rise to 785 CFA francs ($1.87) a liter (0.3 gallons), from 545 francs, while gasoline prices will increase to 795 francs, from 615 francs, Emile Tyehoulou, the government spokesman, said in a statement read on state television today. The increase will “have an impact on the livelihood of cocoa producers,” said Kagnipie Kone, vice- secretary of the main cocoa-farmers’ union, Anaproci.

Bloomberg