Starting off with the idea that T&T could do more than just produce cocoa as a primary product, cocoa estate owner Astrida Saunders had the belief that T&T could be a manufacturer of cocoa products. Three years later, Saunders, managing director, Exotic Caribbean Mountain Pride, is proud to say she has already begun to produce chocolates and cocoa butter from cocoa and hopes to export. She owns a 23-acre cocoa estate in Tamana, but the cocoa business is located in Santa Cruz. "From time immemorial, T&T had just been planting cocoa and producing it. I thought that it would be a good idea to actually make chocolates and other products instead of just planting it. That's how the company got started," said Saunders in an interview last Monday.
"Converting the cocoa into a finished product is profitable. The Cocoa Board buys the cocoa at $9 kilogramme and then at the end of the year, you get a cess–a bonus–of $6 a kilogramme for every kilogramme a crop you sell. So, for example, if I get three manufactured pods from a kilogramme, I wholesale my pods at $15 and that gives me $45 for the finished product," she said. Saunders said the chocolates made out of the cocoa pods are used to make different types of tea. "We started off making the traditional chocolate and we made it into the style of a cocoa pod, which people liked. People are attracted to our chocolates because of the flavouring and the aroma," she said. Saunders said her chocolates can be found in souvenir shops and are sold at "premium prices." "It's sold at $30 to $35 per pod. Apart from souvenir shops, consumers can also buy the chocolates at Hi-Lo and Xtra Foods."
Retail challenges
Things have not been all smooth sailing for Saunders since she started her business: getting retailers to buy her products was a challenge. "One of the main challenges was to convince the retailers to buy it and put these products on their shelves. It was not easy getting it into the supermarkets shelves. "Sometimes when I go to the supermarkets, I see my product on a lower shelf, while the more known brands are on top and, of course, it's more difficult for consumers to it, but that's a challenge." Saunders started her business three years ago with $25,000. Today, the company is worth more than $300,000. "Right now, I'm negotiating a loan to buy more machinery. I want to import a press to start producing cocoa butter in a big way. I'm making cocoa butter right now, but it's not in a big way."
She is currently in talks with the Agricultural Development Bank (ADB) for that loan. "Because of the uniqueness of the project, ADB is willing to finance the loan. ADB has been with me since the beginning. When I first started off, they would put my cocoa pods into their gift packages for Christmas and people who received it would then call me based on an interest in my product," she said.
Saunders believes she has to be innovative. She knows there are few people in T&T in the business of making manufactured products from cocoa. "When I started, everything was from done from trial and error. There are few people I could learn anything in this industry from because there aren't much people in this business. There are only one or two people who produce block cocoa."
Increase in output
As Saunders continues to buy more equipment to increase her output, she is confident there will be a concomitant increase in her output.
"So far we have been meeting our targets and orders every month of 50 boxes. This capacity is increasing as time goes." She said her products were highlighted at the Expo 2010 Shanghai. Her company will also exhibit at the Trade and Investment Convention TIC from May 19 to 22 at the Hyatt Regency Trinidad hotel, Port-of-Spain. Saunders also exhibited two Wednesdays ago at the project launch of the Caribbean Fine Cocoa Forum (CFCF) at the UTT campus, National Academy for the Performing Arts.
Exports
"So far I have got calls from the United States, Canada and the United Kingdom. Actually, right now, I'm in the process of getting a product number to get my brand on US shelves. Right now, there are people with interest from all over the world." Saunders is "cautious" about her next move. "I can continue on the path I started. I would also like to get into more cocoa-based products, like cocoa powder and the cocoa butter, but I don't want to rush. I want to have a range of products in the future, but it all depends on my marketing skills. "At the end of the day, I have to ensure that my ideas are converted into the money I invest."
