By Emmanuel Tumanjong
Special to DOW JONES NEWSWIRES
YAOUNDÉ, Cameroon--The government will provide funding to build
more cocoa-processing factories as part of a plan to more than
double local processing and increase value.
"Our scheme is focused on processing 70,000 tons of cocoa beans
yearly. So, we'll be investing 3.2 billion Central African francs
[$5.8 million] for new factories that will join existing ones,"
said Bruno Ntakeu, director in charge of the transformation of raw
materials in the Ministry of Trade.
Cameroon presently processes around 32,000 tons of cocoa beans a
year into cocoa powder and butter, about 15% of the total crop,
according to government and industrial statistics. The two main
processors in Cameroon are Swiss chocolate maker Barry Callebaut AG
(BARN.EB) and South Africa's Tiger Brand (TBS.JO).
"This project is aimed at adding value to our cocoa, instead of
selling unprocessed cocoa that offers very little benefit," the
official said. Mr. Ntakeu said the new factories will process an
extra 36,000 tons of cocoa beans a year.
Cameroon's cocoa output slipped to 209,905 tons in the 2013-14
season [August-July] from 228,911 tons in the previous season. The
country exported 158,311 tons of cocoa beans in 2013-14, down from
201,563 tons, according to official data. The cocoa season
officially runs from August until the following July.
Write to Emmanuel Tumanjong at
realtimedesklondon@dowjones.com
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