Explore Business Standard
Cocoa Powder Import
After China, Cote d'lvoire -- the world's largest producer of cocoa -- is eying investments from India to establish cocoa processing units and for direct sale of cocoa products. State-owned Transcao, established in February 2019, to encourage production of value-added products of cocoa to ensure better returns to local farmers, has already received an investment of 255 million Euro from China for two greenfield projects here. With demand for cocoa reaching a saturation point in the US and Europe, Cote d'lvoire, known as Ivory Coast, is focusing on transformation of cocoa and exploring collaborations with Asian countries. "With India having the largest consumer base. Cote d'lvoire is very keen to have stronger ties with South Asian nations," Transcao General Manager Colulibaly Konan Theodore told PTI in an interview. Currently, Transcao -- also called Societe De Transformation De Cacao Cote D'lvoire -- is in the process of setting up two greenfield projects with a total processing
India, an emerging market for consumption of cocoa, should become a member of the International Cocoa Organization (ICCO) in a bid to take part in the policy dialogue, ICCO Executive Director Michel Arrion said. Currently, India annually produces only 27,000 tonnes of cocoa, used largely in the manufacturing of chocolates, and imports about 1 lakh tonnes worth of cocoa-based products like butter. Speaking to PTI, the ICCO Executive Director said, "Production of cocoa in India is very low. But any country producing one tonne of cocoa is eligible to become our member." India imports a lot and is one of the emerging markets for consumption of cocoa in Asia. It should become a member of the ICCO, he said, adding both producing and consuming countries are eligible to be members of the ICCO. ICCO, an inter-governmental organisation of consumers and producers of cocoa, is based in Abidjan, the economic capital of Cote d'lvoire, West Africa. Listing out the advantages of becoming a member