Last Updated- Mar 31, 2009 19:52 - - 0 Comments


Cocoa Processing Company doubles capacity

cocoaCocoa Processing Company, a Ghanaian processor of the chocolate ingredient, completed an expansion program that more than doubled its capacity, said Dramani Egala, a director of the company’s board.

The Tema-based company is now able to handle 64,500 metric tons a year of cocoa, compared with 25,000 tons previously, Egala told shareholders today at an annual general meeting in the capital, Accra. The expansion is in line with plans by the West African nation, the world’s second-biggest cocoa grower, to “encourage processing,” he said.

Cocoa is processed into butter, liqueur, powder and other products for use in food and cosmetics.Cocoa Processing manufactures a line of chocolates that are sold domestically under the Golden Tree brand name.

Last November, Minneapolis-based Cargill Inc. opened a cocoa-processing plant with a capacity to produce 65,000 tons a year. Archer Daniels Midland Co. is expected to open a plant in the central city of Kumasi later this year.

The Ghanaian government owns about 48 percent of Cocoa Processing’s shares, with state-run industry regulator Ghana Cocoa Board controlling about 22 percent, according to the company’s annual report.

Ghana is a neighbor to Ivory Coast, the world’s biggest cocoa producer.

Source: Bloomberg

Email This Post Email This Post | Print This Story Print This Story

Comments

Got something to say?