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THE COCOA INDUSTRY BOARD OF JAMAICA RESTRUCTURING COMMITTEE ______________________________ COCOA INDUSTRY DIVESTMENT RE

2. History of the Cocoa Industry in Jamaica. The CIB was a construct of the latter stages of colonialism, and its main purpose was to ensure that Jamaica should become and remain an exporter of high quality beans ? therefore remaining a raw producer, with added value being created in the metropole o

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THE COCOA INDUSTRY BOARD OF JAMAICA RESTRUCTURING COMMITTEE ______________________________ COCOA INDUSTRY DIVESTMENT RE

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    1. THE COCOA INDUSTRY BOARD OF JAMAICA RESTRUCTURING COMMITTEE ______________________________ COCOA INDUSTRY DIVESTMENT REPORT (Jamaica) ______________________________ 19th November 2010

    2. 2 History of the Cocoa Industry in Jamaica The CIB was a construct of the latter stages of colonialism, and its main purpose was to ensure that Jamaica should become and remain an exporter of high quality beans – therefore remaining a raw producer, with added value being created in the metropole or elsewhere, and that is still its basic modus operandi. Jamaica’s fine flavour cocoa is viewed to be one of the best in the world. Premiums for fine flavour cocoa have fallen, and Jamaica can receive 40 to 50 pounds sterling or about 10 per cent over the price for bulk – although Trinidad can receive significantly more. Premiums on Jamaican cocoa have fallen as a result of Madagascar cocoa replacing Jamaican cocoa when Jamaican exports fell. The range of countries that produce fine flavour cocoa could increase from the current 17, which would create a large supply of the bean, and perhaps see a further reduction in price, unless demand also rises.

    3. 3 The 1960’s 4. Since the Cocoa Industry Board (CIB) was established in 1957, the cocoa crop has never exceeded the 3500 tons of 1925. The highest recent production since the Board’s establishment was 2,738 tons in 1982/3 – well below the CIB record of 3394 tonnes in 1959/60 (see Pic No. 1). 5. Jamaica’s cocoa production has fallen from a high of about 3400 tonnes in 1961 to a low of 200 tonnes in 2004. The best years of production were in the 1980s with annual production of more than 2500 tonnes, until 1988 when Hurricane Gilbert struck the island. Production quickly improved however, until 1995 when production fell to just over 1000 tonnes, and has remained below that level ever since, badly affected by hurricanes, drought and loss of interest among farmers.

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