Cotton Weblink Limited, a subsidiary of the Farm Management Services Limited (FMSL) will commence the production of mango concentrate from 2019, it has emerged.
This follows the signing of a 7.6 million euros contract with a Hungarian investor and farmer (name withheld).
Rite News in an interview with the Board Chairman of FMSL and 2009 National Best Farmer disclosed that the contract was signed between Cotton Weblink Limited and the Hungarian investor but which was facilitated by the Hungarian Embassy to start the production of mango concentrate in Somanya for export.
Mr. Davies Narh Korboe, chairman for the National Farmers And Fishermen Award Winners Association Of Ghana disclosed this in an interview with Rite News explained that the signing of the agreement between the company and the said investor was facilitated by the Hungarian Embassy.
“A contract worth 7.6 million Euros was signed between Cotton Weblink Limited and a Hungarian investor which was facilitated by the Hungarian Embassy to start the production of mango concentrate in Somanya in the Eastern Region of Ghana for export to foreign markets,” he said.
Fruit concentrates are generally frozen and concentrated forms of fruit juices and juice drink blends. They are concentrated by removing water and thus making shipping, transportation and warehousing easier and cheaper.
The 2009 National Best Farmer and chairman of National Farmers and Fishermen Award Winners Association of Ghana, NFFAWAG said producing the concentrate will aside this purpose create enormous employment opportunities for unemployed youth.
“The production of the concentrate will ensure value addiction to the fruit and rake in foreign exchange,” Chairman Davies asserted, adding that the other objective of the intended setup is to “reduce the unemployment rate in the country where four shifts will be ran in a day.”
Each shift is expected to produce about 8 metric tons of mango concentrate amounting to 32 metric tons in a day.
While relying on local producers for raw materials needed for the production, the NFFAWAG chairman was hopeful that local farms including FMSL farms, Mango City in Northern Ghana and other farmers can meet the demand of the firm when operations begin.
While export to mainly foreign markets remains the immediate plans of the firm, Mr. Korboe nevertheless said local industries who demand the produce would be considered for supply.
The global fruit concentrate market is expected to grow at a CAGR of 5.5% and is estimated to reach $38 billion by 2021 from $29.3 billion in 2016.
Fruit concentrates generally substitute sugar in various food items such as cakes, juices, chocolates and others by acting as natural sweeteners.
They are minimally processed to preserve the natural flavour and colour. Fruit concentrates are gaining significance in the market because of its convenience in use and a larger shelf life.
It has become a staple product in many homes due to its low price as compared to fresh fruit juice. The demand is also increased for infants and dairy foods.
Source: Joyce Bedeleyfirstname.lastname@example.org