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Olam is one of the world's largest originators of cocoa, being physically present in all the major exporting countries in Africa and Asia. We have a strong marketing and trading presence centred upon the cocoa headquarters in London and regional hubs in Singapore and New York. In all countries we have built upon our origination strengths to ultimately provide chocolate manufacturers and cocoa powder users with their most valuable ingredient.
Olam is a leading supplier for cocoa beans and cocoa products, which include cocoa butter, cocoa liquor and cocoa powder. Cocoa products are the basic ingredients for chocolate confectionery and the flavouring of many other food products such as biscuits, cakes, ice cream and beverages. Olam is involved in all stages of the supply chain, which includes origination, processing, exporting, shipping and logistics, importing and distribution.
Olam's cocoa business began in Nigeria in 1992 and has grown to encompass all of the major exporting countries in Africa and Asia. We have established an extensive primary procurement network in each country; and are one of the world's most diversified sourcing companies, operating as Outspan in various countries including Cote d'Ivoire.
In operations as widespread and different as Cameroon and Indonesia, our origination expertise and the investment in infrastructure provide the backbone for the business. We have a good understanding of the countries in which we operate and an ability to develop and maintain strong relationships with the farmers, co-operatives and agents who supply cocoa. Maintaining consistently high quality, with quality control inspectors checking the quality of cocoa at every stage, from source through to export, is fundamental to our success.
We established cocoa operations in Ghana in 1998 and became the first International Company to be granted approval by the Ghana Cocoa Board to operate as a Licensed Buying Company and have maintained a leading position thereafter. We are leading exporters in Cote d'Ivoire, Nigeria, Indonesia and Cameroon and have good market shares in countries as diverse as Uganda, Tanzania and Papua New Guinea. We will continue to support development initiatives in Vietnam, Africa and Asia.
Olam has developed from its processing of cocoa products in Nigeria to sourcing products from many processing industries, particularly in Africa and Asia. Value added activities such have cocoa butter melting and liquid delivery are requiring greater customer involvement.
Olam's trading team has a wealth of experience in both the physical and futures markets and close relationships with leading cocoa processors and chocolate manufacturers worldwide. Olam's marketing and trading headquarters moved from Singapore to London in 2003, to ensure greater proximity to the customer base in Europe and to ensure that we could develop the business in North America and Eastern Europe. Olam continues to be a major supplier to all the processing and chocolate industries in the Asian region and a growing position in Japan and China.
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