49% of Côte d’Ivoire’s Cocoa Production Will Now Be Processed Locally
The head of the sector regulator for the Cote d’Ivoire announced on Friday that starting in October, 49% of the nation’s cocoa will be processed domestically.
It was said that the nation would make an effort to reach its goal by putting in a number of new plants.
The largest producer of cocoa in the world, Cote d’Ivoire produces roughly 2.2 million tonnes of cocoa annually.
The government wants to raise that percentage to at least 50%. Currently, 35 to 40 percent is processed domestically and the remainder is exported.
The Coffee and Cocoa Council’s (CCC) Director-General, Yves Brahima Kone, visited Abu Dhabi this month to inaugurate a new CCC office.
According to Mr. Kone, Ivory Coast and the United Arab Emirates have inked a contract for the construction of a new factory in San Pedro with a 120,000-ton grinding capacity.
“This permanent representation (in Abu Dhabi) is the result of our new, global export strategy for Ivorian cocoa,” the statement reads.
He told Reuters that “this office will enable us to examine markets in Asia, the Middle East, and North Africa.”
Mr. Kone noted that Cote d’Ivoire anticipates the operation of two new facilities with a combined output capacity of 50,000 tonnes, which were funded by China, in October.
According to him, the country will become the top cocoa grinder in the world thanks to the new factories, which will enable it to process more than one million tonnes of cocoa yearly.
Right now, it competes with the Netherlands for first place.
In recent years, the state has pursued an aggressive strategy to promote local processing, including providing tax breaks and other benefits to Ivorian businesses.
