naturally in Northern Zambia, this
may be a suitable area to explore the
feasibility of commercial production in
Zambia.
In the 2014/15 season, cocoa production
hit an estimated 4.2 million tons,
according to the International Cocoa
Organization.
“Whatever we produce, we can’t
influence the market,” said Mr. Melka.
If done properly, a new spate of
plantation projects in Latin America
could be a good investment, said Max
Goettler, a trader and analyst at the
Dutch trading firm Cocoanect.
Where is the growth in this‘
industry going to come from? In my
opinion, the only place it’s going to
’.come from is Latin America
Dennis Melka—
“There are profitable opportunities given
the current market prices for cocoa,” Mr.
Goettler said.
This leaves the market highly vulnerable
to both political risks and adverse
weather, which can quickly push up
prices.
However, traders and analysts say
large-scale cocoa production is difficult
work. While cocoa plantations aren’t
new, the crop is both labor intensive and
vulnerable to disease.
The more robust strain of cocoa that Mr.
Melka plans to use to offset these risks,
called the CC N51, doesn’t taste good if
not fermented properly, Mr. Goettler said.
But Mr. Melka isn’t deterred. He insisted
that even if cocoa prices don’t rise—as
he expects—the bet is still a good one:
people will keep eating chocolate.
Write to Katherine Dunn at Katherine.
[email protected]
FARMERS GAZETTE
November 2015
33