Substantial Wealth in chocolate products-MD of CPC calls for scaling up of processing capacity

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By Elvis DARKO, Accra

Managing Director of Cocoa Processing Company (CPC), Nana Agyenim Boateng I says Ghana stands to gain massive revenue from the downstream processing of cocoa beans into chocolate products to actualise the President’s ‘Ghana beyond Aid’ agenda.

He, therefore, called for massive investment into the expansion of the processing capacity in the country, saying countries that have developed their chocolate industries are reaping substantial wealth.

Demand for the Ghanaian brand of chocolate high

According to him, the demand for the Ghanaian brand of chocolate on the international market is high; therefore, there is the need for Ghana to take advantage and generate huge amounts of revenue through the processing of all Ghanaian cocoa beans, instead of exporting them in their raw state.

CPC unveils 3 new variants of chocolates

Unveiling three new variants of chocolate products at the company’s premises, Nana Boateng disclosed that when CPC processes 4,062 tonnes of cocoa beans, it derives 5,000 tonnes of chocolate and 5,000 tonnes of drinking chocolate.

The new products launched are Goldentree Premium Chocolate, Goldentree Heritage Artisanal Chocolate and Goldentree Nuttychoc.

More new products in the pipeline

Nana Boateng hinted that the launch constituted the first of many to be organised in the coming years as the company concluded work on other new products.

4,062 Tonnes of cocoa beans can fetch $52 million

According to him, with current prices, revenue from 5,000 tonnes of chocolate produced using liquor and butter, as well as 5,000 tonnes of drinking chocolate produced from 4,062 tonnes cocoa beans, will fetch $52 million.

CPC can make $845 million from 65,000 tonnes capacity

Therefore, he said, if CPC should operate at full capacity of 65,000 tonnes to produce chocolates products, it will make an annual revenue of $845 million.

100 Grams chocolate sells at GH₵406

Giving further details, the CPC MD explained that 100 grams chocolate, which is one carton, is sold at GH₵406.

According to him, the ex-factory price is GH₵255 whilst the tax on it amounts to GH₵156.

100 Cartons of chocolate sell at GH₵25,500

He stated that 100 cartons, which is equivalent to one tonne of chocolate, will generate GH₵25,500.

5,000 Tonnes of chocolate can fetch $25.5 million

Nana Boateng said doing a benchmark of 5,000 tonnes chocolate will fetch the CPC $25.5 million.

$16 million in taxes

The tax to be generated from the $25.5 million amounts to $16 million.

4,062 Tonnes of beans will cost $8.9 million

At the current rate of $2,200 per tonne of cocoa beans, 4,062 tonnes of beans will cost $8.9 million.

However, the revenue to be generated from processing the 4,062 tonnes into chocolate and cocoa drinking powder will fetch $52 million.

The CPC MD stressed investment in operations to make Goldentree Chocolate a global brand.

CPC has requisite human resource

In that regard, the MD stated that the CPC had the requisite human resource to expand its operations, and called on the investing public to support with funds to procure additional machines to augment the existing plant and machinery.

Processing will reduce raw cocoa beans exported

This, he said, will enable CPC increase downstream processing capacity and help reduce the volume of raw cocoa beans exported.

Switzerland generates $14 billion revenue from chocolates

Giving examples, he mentioned Switzerland, which generates $14 billion revenue from chocolates while Belgium generates $12 billion from the commodity.

Investment in beans production without processing affects price

He cautioned that the continuous investments in the production of beans without commensurate downstream investments and promotion in finished goods will lead to the oversupply of beans, and thereby low prices on the international market.

To buttress his point, Nana Boateng stated that in the 2010-2011 cocoa season, 3.6 million tonnes of cocoa was produced in the world and cocoa price was $3,500 per tonne.

Come to the 2016-2017 season, he noted that production increase led to a surplus of 380,000 tonnes, and prices fell at the world market.

He added that in 2017-2018 cocoa season, surplus of 100,000 tonnes was recorded, and with a struggle now with prices.

Launching the products, Minister of State at the Ministry of Agriculture, Dr Nurah Gyeile observed the need for Ghana to position herself to reap its share of the huge profits being made by the chocolate industry worldwide.

Dr Gyeile, who was speaking on behalf of the Minister of Agriculture, Dr Owusu Afriyie Akoto, said Ghana, as one of the leading suppliers of cocoa in the world, should also become a leading supplier of premium chocolate.

“To achieve this, it is important that we add value to meet existing consumer demands and attract new ones by developing strategies which would position the Goldentree brand as not just a desired dessert, but also as healthy option with its high premium cocoa content,” he stressed.

In appreciating the work of CPC in launching the product, the Minister said, “It is for this reason that I am encouraged by this launch, which introduces to the world quality chocolate, which is nourishing, healthy and attractively packaged.”

He promised government’s support to CPC to help the company resolve all its production challenges in order to generate the kind of wealth expected for the country.

Goldentree Premium Chocolate

The first of the new products – Goldentree Premium Chocolate – consisted of six different types of milk chocolate with exotic nuts like macadamia, pecans, pistachio, almonds, walnuts, coconut and white chocolate.

Goldentree Heritage Artisanal Chocolate

The second – the Goldentree Heritage Artisanal Chocolate – is an assortment of handcrafted chocolate pieces in six flavours, with other varieties incorporated with cocoa nibs and peanuts.


The third – Goldentree Nuttychoc – is a groundnut-centred chocolate dragee which comes as an alternative to the Goldentree Pebbles, with white, milk and dark chocolate varieties.


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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