Ivory Coast Grants Tax Incentives for Cocoa Processors
- Country to open secondary cocoa market dedicated to grinders
- Ivory Coast seeks to lift local processing to 50% of harvest
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Ivory Coast said it will introduce tax breaks for cocoa grinders that expand their capacity and lift production of value-added products as the world’s biggest producer of the chocolate ingredient seeks to process at least half of its annual harvest locally.
The West Africa nation will open a secondary cocoa market dedicated to grinders during the next main harvest that starts in October, Prime Minister Daniel Kablan Duncan told reporters in the commercial capital, Abidjan. Ivory Coast will guarantee grinders access to as much as 70 percent of beans sourced from the mid-crop, the smaller of the two annual harvests that runs from April through September, Duncan said.