Côte d’Ivoire moves to process 49% of its cocoa production locally
Ivory Coast head of sector regulator on Friday said the country would increase the amount of cocoa it processes domestically to 49 per cent of production starting from October.
It said the country will try to meet its target with the addition of several new plants.
Cote d’Ivoire is the world’s top cocoa producer with annual production of about 2.2 million tonnes.
Currently about 35 to 40 per cent is processed in the country and the rest exported, but the government has a goal of increasing that to at least 50 per cent.
Yves Brahima Kone, Director-General of the Coffee and Cocoa Council (CCC), went to Abu Dhabi this month to open a new CCC office.
Mr Kone said Ivory Coast has signed an agreement with the United Arab Emirates for the construction of a new plant in San Pedro with a grinding capacity of 120,000 tonnes.
“This permanent representation (in Abu Dhabi) is the fruit of our new vision for Ivorian cocoa that we want to export all over the world.
“This office will allow us to explore markets in Asia, the Middle East and North Africa,” he told Reuters.
Mr Kone added that Ivory Coast also expects two new factories financed by China to enter into production in October, with a production capacity of 50,000 tonnes each.
The new plants will allow the country to process more than one million tonnes of cocoa annually, making it the world’s leading cocoa grinder, he said.
Currently it vies with the Netherlands for top spot.
The state has implemented an aggressive policy in recent years to make local processing attractive, including offering tax cuts and other incentives to Ivorian companies.
(Reuters/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Lagos
Police nab four men for stealing three tricycles at Lagos firm
Mr Hundeyin said that the company’s secretary reported that on Tuesday at about 7.00 a.m.
Agriculture
Council trains Imo farmers in cashew production for export
“Cashew holds a huge foreign exchange potential for Nigeria.’’
NationWide
Commission proposes joint technical committee to end Kebbi, Niger boundary dispute
“There is equally the need for a physical fieldwork to trace the boundary in accordance with relevant documents.’’
Education
Foundation trains 50 Kano UTME candidates in computer-based test
Mr Abdulwahab said that the initiative was aimed at equipping the participants with the necessary computer skills.
NationWide
Ministry partners Cisco, others to boost digital economy
The minister noted the increased attention on AI across the world and growth in investments in technology in Nigeria.
Politics
171,922 APC members to choose Ondo governorship candidate among Aiyedatiwa, Oke, Ibrahim, 13 others today
Mr Omo-Agege assured of the committee’s resolve to strictly follow the party’s guidelines and constitution.