Ftn Cocoa Processors Plc (Nigeria)

FTN Cocoa Processors Plc, located in Lagos, is a provider of processed agricultural commodities. The company was formerly registered as Fantastic Traders Nigeria Limited and was incorporated in 1991. It started its cocoa processing business in 1995 through a third-party arrangement with Stanmark cocoa processing company limited. The company later expanded its processing activities to other locations in Nigeria. Over the years, FTN Cocoa Processors Plc has established strong relationships with overseas cocoa product buyers such as Theobroma BV Netherlands, Euromar Berlin, Trading and Services France, Union Chocolate Poland, Delfi Cocoa (Europe) France/Netherlands, and Indcresa Spain. It has also formed solid relationships with local users such as Nestle Nigeria Plc and Promasidor Nigeria Limited. In addition to cocoa processing, the company diversified into processing palm kernel in March 2001. It established a crushing facility in Ibadan with a capacity of 20,000 MT per annum. The main products from this facility are crude palm kernel oil and palm kernel cake, which are sold locally to industrial users. FTN Cocoa Processors Plc has processed approximately 64,000 MT of cocoa beans and 90,000 MT of palm kernel over a period of 16 years. In 2003, the company leased Cocoa Products Company Ltd in Ille-Oluji, Ondo State and successfully turned it around, leading to its privatization in 2006. In 2005, the company decided to venture into full-scale self-production and commissioned a fully integrated factory in November 2007. The factory has a processing capacity of 10,000 MT of cocoa beans and includes packing lines for cocoa liquor, cocoa butter, cocoa cake, and cocoa powder. An additional 10,000 MT capacity per annum line was commissioned in September 2011, and the vegetable oil aspect was commissioned in January 2013. FTN Cocoa Processors Plc focuses on processing cocoa beans and palm kernel seeds, offering products such as cocoa butter, cocoa cake, cocoa powder, and cocoa liquor.