Cargill to build cocoa processing facility in Ghana

COBHAM, UK ? 02 JUNE 2006 ? Cargill is to build a state-of-the-art cocoa processing facility in Ghana, West Africa, to produce cocoa liquor, butter and powder. The facility will be located in the port of Tema and will process 60,000 tonnes initially, with the potential to expand to 120,000 tonnes.

The announcement follows a recent high-level meeting between His Excellency the President of the Republic of Ghana, Mr. John Kufuor, and Cargill?s Chairman and Chief Executive Officer Warren Staley, along with other Ghanaian government officials and senior Cargill executives. Construction is due to begin during the next few months and the facility should be operational by the end of 2007.

In a further commitment to cocoa in the country, Cargill today signed a long-term cocoa bean supply agreement with Mr. Isaac Osei, Chief Executive of the Ghana Cocoa Board.

"As a major cocoa processor, it is important that we continue to invest in order to meet the growing needs of our cocoa customers," comments Paul Naar, Head of Cargill?s food ingredients business in Europe and Africa. "The quality of Ghanaian cocoa beans is excellent, and we are pleased to invest in a country whose government is committed to cocoa and further developing its processing industry."

Comments Isaac Osei: "Cargill?s international expertise in the cocoa industry and reputation for business excellence will have many benefits for the Ghanaian economy. The new facility will significantly increase Ghana?s ability to process cocoa beans locally, at the same time creating an important new outlet for local farmers and employment opportunities for the local community in Tema.

Cargill has been supplying quality cocoa products to customers around the world in the chocolate, confectionery and food industry for over 40 years. The company has a network of cocoa processing facilities in Western Europe, Ivory Coast, Brazil and USA.