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23rd June, 2009
CPC Increases Processing Capacity To 64,500 Tonnes
Ghana’s Cocoa Processing Company (CPC) has more than doubled its cocoa bean processing capacity to 64,500 tonnes a year, after completing a five-year rehabilitation and expansion programme.
In a statement issued in Accra, the company said the boost in output was in line with plans by the western African country to ‘encourage processing’.
One of the two CPC factories grinds beans into semi-finished products such as cocoa liquor, butter, natural and alkalised cake, or powder, while the other plant manufactures confectionery products under the Golden Tree brand.
With 6,90,000 tonne, Ghana is the world’s second largest supplier of cocoa beans behind its neighbour Ivory Coast that produced 1.3 million tonne last year.
Ghana processes up to 2,50,000 tonne from a cocoa crop which has averaged 6,70,000 tonne over the past four years.
Ghana is the second-largest supplier of cocoa to the US, which in 2005 imported $ 1.4 billion of cocoa products.
Based on flavour quality and cocoa powder content, Ghanaian cocoa beans are among the highest ranked worldwide and holds a 16% share of global output.
Meanwhile, New York and London cocoa prices softened last Friday, extending last week’s retreat from recent two-month highs.
September cocoa on New York-based Intercontinental Exchanges (ICE) was down $2 at $2,554 a tonne.
In London, September cocoa was down 10 pounds at 1,627 pounds a tonne.
In a statement issued in Accra, the company said the boost in output was in line with plans by the western African country to ‘encourage processing’.
One of the two CPC factories grinds beans into semi-finished products such as cocoa liquor, butter, natural and alkalised cake, or powder, while the other plant manufactures confectionery products under the Golden Tree brand.
With 6,90,000 tonne, Ghana is the world’s second largest supplier of cocoa beans behind its neighbour Ivory Coast that produced 1.3 million tonne last year.
Ghana processes up to 2,50,000 tonne from a cocoa crop which has averaged 6,70,000 tonne over the past four years.
Ghana is the second-largest supplier of cocoa to the US, which in 2005 imported $ 1.4 billion of cocoa products.
Based on flavour quality and cocoa powder content, Ghanaian cocoa beans are among the highest ranked worldwide and holds a 16% share of global output.
Meanwhile, New York and London cocoa prices softened last Friday, extending last week’s retreat from recent two-month highs.
September cocoa on New York-based Intercontinental Exchanges (ICE) was down $2 at $2,554 a tonne.
In London, September cocoa was down 10 pounds at 1,627 pounds a tonne.
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