United Cacao Ltd SEZC (LON:CHOC) CEO Dennis Melka talks to DirectorsTalk in this exclusive interview to put the record straight. We ask Dennis the following questions in this candid interview:
First, has United Cacao broken any AIM Rules? What type of land are you developing the estate on? Is there any remote, small possibility that this land can be determined locally to be “primary rain forest”…. Any small chance at all ? How was the land originally titled that United Cacao acquired? Explain to me this “PAMA”… What does it mean and when will it be approved? What’s your views on the Peruvian election run off ? How is the PAPEC program going ? The Cacao market this year. What’s the latest? How is the plantation?
United Cacao Ltd SEZC is a pure-play cacao producer and currently the only publicly listed permanent crop estate in Latin America. The Company trades with the ticker symbol CHOC on the AIM market of the London Stock Exchange and also on the Lima Stock Exchange. Through its wholly owned Peruvian operating subsidiary, Cacao del Peru Norte SAC (CDPN), the Group seeks to become the world’s largest and lowest cost corporate grower of cacao when it completes the planting of its existing 3,250 hectare estate in 2017. In addition, the Group has initiated an adjacent 3,250 hectare small farmer out-grower initiative, Programa Alianza Producción Estratégica Cacao (“PAPEC”), with local communities that it intends to complete planting by 2021, thereby taking the total project to 6,500 hectares. Under PAPEC, the Group extends micro-financing to select small growers to plant cacao and then purchase their “wet” beans for processing and drying at the Group’s fermentation facilities.