Cargill to keep grinding in Ivory Coast

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Cargill to remain processing cocoa in Ivory Coast
Cargill to remain processing cocoa in Ivory Coast

Related tags: Côte d'ivoire, Cocoa bean, Ivory coast, Cargill

Cargill will not move or reduce its cocoa processing operations in the Ivory Coast after successful talks with the national government.

Reports had surfaced late last year that Cargill was disillusioned by Ivorian cocoa reforms that had abolished tax breaks for processors and introduced more expensive export levies.

However, the company has confirmed that it will not par-down its operations in the country

Paul Naar, president of Cargill Europe told Reuters: "It's not being discussed." confirmed the details of the Reuters article​ with a Cargill spokesperson, however Cargill would not comment further on the matter.

The Ivory Coast introduced reforms for the 2012/13 cocoa season that saw tax breaks scrapped and a change in rules to mean that semi-finished cocoa products were now taxed based  on the equivalent weight in beans rather than as a semi-finished product.

Related topics: Commodities, Cocoa & Sugar

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