Ivory Coast will propose tax breaks to locally based cocoa grinders ranging from 40 to 70 CFA francs ($0.07 to $0.12) per kilogram of beans as it seeks to boost processing capacity, a senior finance ministry official said on Wednesday.
The West African nation is the world's top cocoa producer as well as the leading processor of cocoa beans and is aiming to grind half of its production domestically by 2020. It currently processes around a third of its output.
"What we're going to do is propose 40 to 70 CFA francs per kilo to the different grinders based upon their installed grinding capacity," the official, who works on the ministry's cocoa portfolio and who declined to be named, told Reuters.
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