Cocoa Revolution, Emerging Markets, Processing Trends, Yield & Quality Improvement

04-05 Mar, 2015 - Singapore, SINGAPORE

GoodWood Park Hotel Singapore

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News Feed

United Cacao announces listing on Aim, plans to raise £10m by offering new shares

Posted on : 16 Jan, 2015

 

United Cacao, a cocoa plantation owner, has announced listing on Aim, London's junior market. This is the first time that a cocoa plantation owner will be listed on Aim.

United Cacao aims to raise £10m via new shares which will be equivalent to 37% of the group. Post the float, United Cacao's founder and chief executive - Mr. Dennis Melka will hold a fifth of the group, while wealthy individuals and agricultural funds in Asia and South America will own the rest of the shares.

United Cacao aims to tap the rising the global demand for cacao and developing a 3,250ha plantation in Peru. The floating will help the plantation further in this direction. Mr. Melka is hopeful that Peru's tropical climate, focus on disease-resistant varieties of cocoa and transparent labor practices will be conducive to high yield. Further the plantation is capable to withstand potential volatility in commodity markets with its low cost of production (about $900 per ton), compared to the price of the commodity (trading at about $3,000 per ton).

The shift of cocoa plantation to Latin American countries like Peru is driven by the Ebola crisis in West Africa (70 per cent of the world's cocoa is grown here) which is hampering cocoa production. Further civil war and ISIS trouble in the region has led cocoa producers to look elsewhere. Apart from United Cacao, Agro Nica Holdings in Nicaragua and ROIG Agro-Cacao in the Dominican Republic are other plantations coming up in Latin America.

Dennis Melka, Founder, United Cacao Limited SEZC will share a key perspective on 'Developing cocoa as a large scale agro industrial crop' in Peru at CMT's Cacao Revolution on 4-5 March, 2015 in Singapore.

Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.

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