Cocoa bean export volume from Indonesia, the world’s third largest producer of the key ingredient for chocolate production, dropped by 42 percent in the first quarter of this year.
Cocoa processing company PT Bumitangerang Mesindotama (BT Cocoa) plans to invest US$30 million to expand production capacity this year, Chairman and company founder Piter Jasman said.
Cocoa beans export from Indonesia, the world’s third largest producer, may plunge by 50 percent this year, according to the Indonesian Cocoa Association (Askindo).
The government has suggested PT Cargill Indonesia to seek for tax allowance facility in relation to in plan to invest in a new cocoa processing facility.
The country’s cocoa exporters have struggled to meet rising demand overseas due to limited supply of the bean at home.