By Emmanuel Tumanjong
YAOUNDE, Cameroon--Cocoa bean purchases by Cameroon's two
largest processors have fallen sharply during the 2014-15 marketing
year, which has just one month left to run, with one of the
companies holding back as it prepares for major factory
expansion.
The two companies--Chocolaterie Confiserie du Cameroun, or
Chococam, and Sic Cacao, the Cameroon affiliate of
Switzerland-based Barry Callebaut AG (BARN.EB)--purchased 26,224
metric tons of cocoa beans in the period between August 2014 and
June 2015. This represents a fall of 18.15% from the 32,042 tons
purchased in the same period during the 2013-14 season.
The data, released by Cameroon's National Cocoa and Coffee
Board, shows that Sic Cacao was responsible for the majority of the
intake, purchasing 26,618 metric tons, while Chococam, part of
South Africa's Tiger Brands(TBS.JO), purchased just 1,606 metric
tons.
Sic Cacao's intake would have been even higher had it not
diverted $8 million to fund the expansion of its processing
capacity to 50,000 tons a year from the current 32,000. The new
capacity is expected to be ready for the next harvest season, from
August 2015 to July 2016.
"We were out of the farmgates markets because there was very
little cocoa before the midcrop cocoa output period, but resumed
purchase in June," said an official at Sic Cacao. He said the
company is beginning to buy cocoa earlier this year, as it aims to
increase its cocoa intake next season.
Write to Emmanuel Tumanjong at
realtimedesklondon@dowjones.com
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