The Management of Cocoa Processing Company (CPC) Limited has initiated an action plan aimed at increasing the production of confectionery products of the Company, which currently provides between eight and ten per cent of her revenue.
Though confectionery production for the year was 1,013.46 metric tonnes, constituting more than 80 per cent of the target for the 2011 and 2012 financial year, management of the Company is determined to step up efforts to encourage consumption of the products within the West African Sub-Region for profitability.
Mr Jacob S. Arthur, Chairman of the Board of CPC, announced this at the Company’s Annual General Meeting that was organised in Accra on Thursday.
The Company is currently working under heavy operational challenges including interruptions in water and electricity supply and some financial constraints.
Owing to the challenges, the Company is said to have failed to achieve the 24,000 metric tonnes target it set for itself for 2011 and 2012 financial year.
Mr Arthur, however, said that in spite of the difficulties, CPC processed 22,463.477 metric tonnes of raw cocoa beans, the figure being the highest production achieved in 10 years.
He announced that a number of boreholes have been sunk to ease the water problems the company was saddled with.
On electricity supply, Mr Arthur said “the installation of the much-awaited new switchgear and the dedicated power line has also just been completed”.
He said the Board had considered the possibility of processing raw cocoa beans or semi-finished products for companies for a fee as a means of utilising effectively, the Company’s excess plant capacity.
Though CPC’s installed-throughput capacity is 64,500 metric tonne per annum, currently, the Company’s actual production hovers between 25 and 30 per cent of the capacity.
Mr Arthur expressed optimism that the Company would be able to overcome her challenges and to hit the path of productivity.
CPC was established in 1965 and manufactures among other things, chocolate confectionery namely, chocolate bars, chocolate spread and drinking chocolate.
The confectionery products are marketed under the brand name “Golden Tree”.