By Nsan Ndoma-Neji
Management of AA Universal Bean and Co Ltd, (managers of Ikom Cocoa Processing Factory), says the cocoa plant has potentials to generate $400 to 600 million dollars into coffers of federal government on annual basis.
Chairman of the company, Chief Chris Agara made the remarks during a telephone conversation at the weekend.
He described AA Universal Bean and Co Ltd as a firm operating in joint venture with AA Universal Industries Ltd, and a member of LR GROUP of Israel has potentials to break even in the shortest possible time if given assistance and enabling environment.
While giving insight on the join venture, Agara stated that both companies formed an SPV (Special Purpose Vehicle) company known as AA Universal Bean & Co, which provides management of the cocoa value chain.
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“This can be achieved if we take the factory to full potential, if we do value addition. What we are saying is that we don’t want to export cocoa beans any longer.
“We want to be processing our cocoa beans into cocoa butter, cocoa liquor, cocoa powder, possibly chocolate because the potentials in Ikom cocoa area of Cross River State can generate that amount, if we go for the full potentials,” he maintained.
“We have a grant agreement with the United States government through the United States Department of Trade and Development Agency (USTDA)
“We are to carry out a feasibility study and bankable business plan for the development and production of cocoa and Casava farm produce and value addition processing from farm to table for local use and export purposes.
“We are working with a team that has expertise, where nothing is wasted. We uptake cocoa pods away from the farmers because the plenty shells that farmers throw away, we still process them to food paste,” he stated.
Agara averred that his firm will assist cocoa farmers with high quality pesticides that will help farmers overcome issues of black pods and several diseases that stand as obstacle to production of cocoa.
“We process that sweetener the one we lick to juice, and we still used that same juice to process our sweetener for glutton free a chocolate.
“We will pay beyond the premium price of the cocoa beans that farmers are presently offered because we will support them,” he maintained.
Agara disclosed that plans are underway by the cocoa processing firm to establish farmers micro finance bank to aide farmers carry out farming activities with ease.
“In addition to providing support of chemicals and pesticides, fertilizers etc to farmers, our updated and current farming methodology would enable farmers harvest up to 3.5tons of cocoa per hectare as against the 400kg per hectare being harvested now which is 8 times more.
“This we would achieve by helping the farmers to regenerate their old farms in addition to the new greenfield farms by adopting our established and confirmed farming protocols currently in practice in our Ecuador South America farms.”
On the issue of off- taking cocoa pots from the farmers, the chairman also stated that “it would go a long way to satisfy the traceability concerns of our cocoa farming and production processes.
“In addition, off taking the cocoa pots directly from the farms to our processing site would eliminate the practice of using children and women to crack the pots, dry and ferment cocoa at the farms before sales to buyers.
“This clears the international community concerns regarding the issue of child labour in our cocoa farming practices.”