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TBLMY Tiger Brands Ltd New (PK)

10.82
0.00 (0.00%)
03 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Tiger Brands Ltd New (PK) USOTC:TBLMY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 10.82 10.65 11.34 0.00 01:00:00

Cameroon's Processed Cocoa Beans Up 49% From Year Earlier -- NCCB, Government

09/08/2015 4:23pm

Dow Jones News


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   By Emmanuel Tumanjong 
 

YAOUNDE, Cameroon--Cameroon saw a 49% increase in processed cocoa beans in the just-ended season compared with the year before, with 47,712 metric tons processed in the West African nation, according to figures from the government and cocoa industry.

Switzerland-based chocolate manufacturer Barry Callebaut AG (BARN.EB) and South Africa's Tiger Brand Ltd. (TBS.JO) were the chief buyers of the beans, the data show.

Local affiliates of the companies bought a total of 32,112 tons of cocoa beans processed in the 2014-2015 cocoa season, compared with 32,042 tons in the 2013-2014 season, according to data released by the National Cocoa and Coffee Board, or NCCB.

The Cameroon affiliates of Barry Callebaut and Tiger Brand are Sic Cacao and Chocolaterie Confiserie du Cameroun, or Chococam, respectively.

Government and NCCB figures show that chocolate, cocoa powder, cocoa cake and liquor produced by Sic Cacao and Chococam are marketed mainly in the European Union, Cameroon and its five neighboring countries in the Economic Community of Central African States, or CEMAC.

Both companies have the two main factories processing cocoa in this world's fifth-largest cocoa producer and Sic Cacao plans to raise its cocoa-bean intake in the 2015-2016 season to 50,000 tons from 30,000 tons. Barry Callebaut has invested 4.8 billion Central African francs this year to expand the capacity of its Cameroon factory.

Local processors, mainly Cameroonians, crushed 15,600 tons of cocoa beans in the 2014-2015 season.

Cameroon's cocoa season officially starts in August of each year and ends in July of the next year.

Write to Emmanuel Tumanjong at realtimedesklondon@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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