Ivory Coast's ICP to ramp up cocoa grinding at two plants (updated)

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22/06/2018 10:27

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    ABIDJAN, June 22 (Reuters) - Ivory Cocoa Products (ICP) and
Eurofind Group plan to begin cocoa grinding at a new 32,000
tonne plant near Ivory Coast's main city of Abidjan by 2019,
with capacity doubling by 2021, ICP's Managing Director Ismael
Al Khalil told Reuters on Friday. 
    ICP also plans to increase grinding capacity at an existing
factory in the southern port city of San Pedro from the current
50,000 tonnes to 75,000 tonnes by 2021, Al Khalil said.
    The expansion will make ICP the fourth-largest grinder in
Ivory Coast, the world's top cocoa producer, behind Barry
Callebaut  BARN.S , Olam  OLAM.SI  and Cargill  CARG.UL .
    The new plant will mostly produce cocoa butter and cake. By
increasing its capacity, it expects to receive tax benefits
offered by the government for any increase in capacity, Al
Khalil said.     
    All output from the new plant will be sold to Theobroma, a
unit of Swiss-based Ecom Trading.
    Ivory Coast is aiming to process domestically half of its
cocoa bean production by 2020 in a bid to boost the value of its
exports and protect its economy from the volatility of global
commodity markets.  

 (Reporting By Ange Aboa; Writing by Aaron Ross; editing by
David Evans)
 ((Aaron.Ross@thomsonreuters.com; +221 77 569 1702;))