Chocolate Manufacturing

Industry: Agriculture and Agroprocessing

Project: Chocolate Manufacturing

Trinidad and Tobago is home to the award-winning fine/flavour cocoa which creates the potential for lucrative investments targeting high end chocolate markets. The opportunity exists for the development of bespoke chocolate and other cocoa-based manufacturing plants, using locally grown beans.

Trinidad and Tobago’s Fine/Flavour Cocoa

Trinidad and Tobago has been a fine cocoa-producing location for over 200 years and has the potential to meet an increasing global cocoa demand, especially as an input to gourmet foods, with continued rehabilitation of old cocoa estates and the creation of new ones. The country’s location, temperature, rainfall and sunshine hours lend themselves to a thriving cocoa industry. Some of the world’s most unique cocoa specimens within the Trinitario, Criollo and Forastero varieties, are indigenous to both islands.

The University of the West Indies’ Cocoa Research Centre (CRC) delivers research and development initiatives to encourage growth within the cocoa industry and create investment opportunities derived from the design and fabrication of technologies to process cocoa. The CRC is the custodian of The International Cocoa Genebank, Trinidad which conserves the largest and most diverse collection of cacao trees in one location – close to 2300 accessions (plant/seed samples) are spread over approximately 90 acres of estate.

There is an established value chain in Trinidad and Tobago throughout all aspects of the chocolate making process.

Investment Opportunity - Cocoa Processing and Manufacturing Plants

Recent research from the University of the West Indies’ Engineering Institute (2016) shows that a chocolate manufacturing plant is a lucrative investment opportunity to satisfy an increasing international demand for high value premium cocoa and chocolate products.

The project is being promoted based on the following criteria:

  • High global demand for Trinitario cocoa
  • Potential to create high value finished products
  • Relatively low cost of raw material
  • High government and stakeholder interest manifested in funds invested in research and development
  • Increased potential for job creation
  • Low energy costs for cocoa processing
  • Presence of Agricultural incentives
Given the potential for the development of innovative and creative products targeting lucrative markets, the investment can potentially yield an investment return in 4 years with an annual rate of return of between 15-30%. Locations recommended for chocolate manufacturing plants include Tamana InTech Park and the upcoming Moruga Agro-processing and Industrial Park.

Reasons to Invest in Chocolate Manufacturing

There are significant advantages for investing in Trinidad and Tobago’s cocoa industry:
  • Our cocoa flavor profile is dominated by medium cocoa notes blending into pulsating fruity notes and ancillary floral, nutty, caramel, spicy and licorice flavours.
  • 3 consecutive annual victories at the Cocoa of Excellence in Paris have established our reputation for par excellence flavor.
  • Through CARICOM, the country has trade agreements with Colombia, Costa Rica, Cuba, Dominican Republic and Venezuela which allow for greater market access.
  • Cheap energy rates lead to reduced business costs.
  • The country’s geographic position below the hurricane belt decreases the possibility of work disruptions from natural disasters.
  • The Fiscal Incentives Act offers a waiver of income tax on dividends or other distributions other than interest, out of profits derived from the manufacture of approved products
  • Manufacturers may obtain total relief from Value Added Tax on imports for highly capital intensive enterprises
  • The Customs & Excise Act offers investors duty free importation of plant, machinery, equipment, components and raw materials
  • The Foreign Investment Act allows a foreign investor to purchase land not exceeding one acre for residential purposes and five acres for commercial purposes without obtaining a license. Foreign investors may also purchase up to 30% of the cumulative shareholding in a public company
  • 50% towards the cost of packaging material to a maximum of $15,000TTD annually
  • 40% of the cost of HACPP upgrade to a maximum of $40,000TTD
Manufacturing and Agro-Processing incentives are available for investors in the chocolate manufacturing industry.

Contact Us

Takiyah De Four

Manager, Investor Sourcing

info@investt.co.tt


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InvesTT Limited
Trinidad and Tobago
El Socorro, PoS
Trinidad and Tobago

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