Privatisation of the commercial assets of the Cocoa Industry Board (CIB)
The Government of Jamaica (GoJ) is in the process of divesting the commercial assets and operations of the Cocoa Industry Board (CIB). The recent levels of Jamaican cocoa production has been around 400 – 500 Metric tonnes (MT), but has the potential to increase up to 2,500 MT within 3-4 years, if all existing trees were to be in full production.
The CIB has a cocoa farm and four (4) processing facilities (2 of which are currently in operation) which are perfectly located in the vicinity of the farmers and the ports. The fermentaries are capable of producing high quality cocoa beans. In addition, Jamaica has over 6,000 cocoa farmers with extension services and government support.
Jamaica is recognized as one of eight exclusive producers of fine-flavoured cocoa in the world, which gives us the potential to rival the most lucrative markets in the world. With creative marketing and visionary management, these prized assets will enable you to differentiate your products though Jamaica’s premium cocoa flavour.
The GoJ is seeking suitable private investors to facilitate expansion and growth in the cocoa industry and increased cocoa exports through investment and management.
The Government of Jamaica has recommended that the opportunity should be retendered in FY 2018/19. DBJ has procured a valuation consultant to update the valuation of the property, plant and equipment to facilitate the divestment. Request for proposals to be issued to the public by November 2018.