Managua, Nicaragua; September 27, 2016
During a press conference, the Presidential Delegate for Investments, Gral. Alvaro Baltodano announced the arrival of two major cocoa projects in the country, which amount to US$80 million.
MLR Group, one of the projects announced, is going to establish a cocoa plantation of up to 1,000 hectares and top-notch agroforestry systems in the North Caribbean Autonomous Region (RACN for its acronym in Spanish). The company is also planning to undertake the plantation of timber of high commercial value. In the future, the group contemplates the possibility of developing an additional project for the processing of cocoa. Randy Martin, partner at MLR Forestal, said that Nicaragua is probably the "best country for cocoa farming in the western hemisphere.” The investor said, “the country has a mixture of suitable conditions for the development of such projects.”
On the other hand, Bean & Co. plans to develop a cocoa production project of approximately 3,000 hectares in Tipitapa, which is located at the east of the department of Managua. This is an initial step of sizeable project that aims to get to grow up to 10,000 hectares in the country using the latest technology in agricultural production. This project foresees starting cocoa cultivation this year. This last operation highlights that Nicaragua was chosen thanks to its strategic location, the favorable climate for the cultivation of cocoa and the generous tax incentives offered by the government.
Cocoa is one of Nicaragua’s top exported products. One of the most favorable regions for the cultivation of this product is the Caribbean region, as it has great potential for forest crops such as cocoa, oil palm and others that require high humidity. This is because of its abundant rainfalls, which range from 2,500 to 5,000 mm per year.
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