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ABIDJAN: Ivory Coast cocoa grinders had processed 389,000 tonnes of beans by the end of June, up from 342,000 tonnes at the same time last year, data from exporters' association GEPEX showed on Tuesday.

The 2016/17 season in Ivory Coast, which is both the world's top cocoa producer and leading grinder, began last October and ends this September.

In June, 43,000 tonnes of beans were ground, up from 32,000 tonnes in June 2016, the data showed.

In May, grinding was also up 18 percent to 45,000 tonnes.

Ivory Coast is seeking to process a higher portion of its bean output locally and has encouraged this through subsidies and tax reductions.

It has a total capacity to grind 712,000 tonnes of cocoa but only 489,000 tonnes were ground last year.

The GEPEX data only covers six of the largest grinding companies, including Olam and Cargill, among 12 active firms.

 

Copyright Reuters, 2017
 

 

 

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