FTN Cocoa processors
FTN Cocoa Processors Plc is a Nigerian, publicly listed agricultural processor that converts locally sourced cocoa beans and palm kernel seeds into cocoa liquor, butter, cake, powder, palm kernel oil and refined vegetable oils for European export and domestic industrial customers.
- Company typePublic
- Founded1991
- HeadquartersLagos, Nigeria
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What FTN Cocoa processors does
FTN Cocoa Processors Plc is a Nigerian publicly-listed agricultural processing company (NGX: FTNCOCOA) headquartered in Lagos with manufacturing operations in Ibadan, Oyo State. Founded in 1991 (originally as Fantastic Traders Nigeria Limited) and privatized in 2006, the company runs two integrated processing lines: a 20,000 MT/year cocoa facility producing cocoa liquor, cocoa butter, cocoa cake, and cocoa powder; and a 20,000 MT/year palm kernel crushing facility producing crude palm kernel oil and palm kernel cake. In 2013 the firm commissioned a 50 MT/day vegetable oil refinery from Desmet of Belgium to forward-integrate into refined edible oils. The business operates equipment sourced from Germany (cocoa processing), Malaysia (palm kernel crushing) and Belgium (refining), with quality control systems aligned to international cocoa standards.
The company sells cocoa liquor, butter and cake primarily into European export channels (Netherlands, Germany, France, Poland, Spain) through long-standing buyer relationships (e.g., Theobroma BV, Euromar Berlin, Union Chocolate Poland, Delfi Cocoa, Indcresa Spain), while cocoa powder is sold domestically. Palm kernel oil is sold to local refineries and soap manufacturers (e.g., Lina Oil Mills, Sudit Oil Mills, Alkanaah Industries, Smooford Industries), and palm kernel cake is sold into the livestock feed industry. Domestic branded customers include Nestle Nigeria Plc and Promasidor Nigeria Limited.
FY2025 revenue reached N5.65 billion (NGN), a 310% year-over-year increase driven by cocoa product exports. Despite the revenue inflection, the company is reporting its tenth consecutive year of pre-tax losses (N252.65 million loss in 2025, improved from N9.5 billion in 2024), with accumulated losses of N26.83 billion and equity compressed to N543 million, indicating material balance-sheet fragility even as throughput expands.
FTN Cocoa processors firmographics
Firmographics- Name
- FTN Cocoa processors
- Legal name
- FTN Cocoa Processors Plc
- Website
- https://ftncocoa.com.ng
- Company type
- Public
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FTN Cocoa Processors Plc is a Nigerian, publicly listed agricultural processor that converts locally sourced cocoa beans and palm kernel seeds into cocoa liquor, butter, cake, powder, palm kernel oil and refined vegetable oils for European export and domestic industrial customers.
- Ownership category
- akta.pro rank
Where FTN Cocoa processors is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices4 records
Markets served
FTN Cocoa processors business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D
Revenue model
- Cocoa Products Sales: Sale of processed cocoa products including cocoa butter, cocoa cake, cocoa powder, and cocoa liquor to both export markets (cocoa liquor, cocoa butter, cocoa cake) and local Nigerian markets (cocoa powder)
- Palm Kernel Products Sales: Sale of palm kernel oil to refineries and soap manufacturers, and palm kernel cake to the livestock industry. The company plans to sell edible vegetable oil for human consumption and industrial use
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
FTN Cocoa processors product offering
Product offeringCore offering
FTN Cocoa Processors Plc processes locally sourced cocoa beans into cocoa butter, cocoa cake, cocoa powder, and cocoa liquor for both export and domestic markets, and processes palm kernel seeds into crude palm kernel oil and palm kernel cake for industrial buyers. The company operates a 20,000 MT per annum cocoa factory and a 20,000 MT per annum palm kernel crushing facility in Ibadan, Nigeria, along with a 50 MT per day vegetable oil refinery from Desmet of Belgium.
Product overview
FTN Cocoa Processors Plc is a Nigerian provider of processed agricultural commodities engaged in two primary processing operations: cocoa processing and palm kernel processing. The cocoa processing segment produces Cocoa Liquor, Cocoa Butter, Cocoa Cake, and Cocoa Powder from locally-sourced cocoa beans, with the liquor, butter, and cake sold to export markets and powder sold domestically. The palm kernel processing segment produces Palm Kernel Oil and Palm Kernel Cake from locally-sourced palm kernel seeds. The company also operates a 50 MT/day vegetable oil refinery (from Desmet of Belgium) to further refine palm kernel oil into edible vegetable oil for human consumption and industrial use. The cocoa factory has an installed capacity of 20,000 MT per annum, while the palm kernel facility can crush 20,000 MT per annum.
Differentiator
Problem solved
Functional benefit
Products and services
- Cocoa Butter A yellowish liquid paste at temperatures above 30°C with golden yellow color, derived from cocoa beans through the company's integrated processing facility and sold primarily to export markets in Europe.
- Cocoa Cake Light brown kibbled cake produced from cocoa beans, used as an intermediate product that can be further processed into cocoa powder, and exported to international buyers.
- Cocoa Powder Fine free-flowing light brown powder with 10-12% fat content on dry basis, sold to the local Nigerian market for use in food and beverage applications.
- Cocoa Liquor Brown liquid paste produced from grinding cocoa nibs, sold to the export market as an intermediate cocoa product for further manufacturing.
- Palm Kernel Oil Crude palm kernel oil produced from the 20,000 MT per annum crushing facility, sold to edible oil refineries, soap manufacturers, and edible oil producers in Nigeria.
- Palm Kernel Cake The byproduct of palm kernel crushing, sold to the livestock industry as animal feed ingredient.
- Refined Vegetable Oil Refined and deodorised palm oil and palm kernel oil produced at the 50 MT per day vegetable oil refinery from Desmet of Belgium, intended for human consumption and industrial use.
Quantifiable outcome
- Revenue grew 310% year-over-year to N5.65 billion in 2025
- +2 more outcomes
Companies that use FTN Cocoa processors
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
FTN Cocoa processors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
FTN Cocoa processors partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core.
- Desmet of BelgiumcoreSupplier of 50 metric tons per day vegetable oil refinery to refine crude palm kernel and bleach/deodorise palm oil. Equipment commissioned January 2013.
- Theobroma BV NetherlandscoreInternational buyer of cocoa products. Established relationship over 13 years of operations.
- Euromar BerlincoreInternational buyer of cocoa products based in Berlin, Germany.
- Trading and Services FrancecoreInternational buyer of cocoa products from France.
- Union Chocolate PolandcoreInternational buyer of cocoa products from Poland.
- Delfi Cocoa (Europe) France/NetherlandscoreInternational buyer of cocoa products operating in France and Netherlands.
- Indcresa SpaincoreInternational buyer of cocoa products from Spain.
- All Trade International FrancecoreInternational buyer of cocoa products from France.
- Cocoa Products Company Ltd (Ille-Oluji)coreFTN leased this moribund company in 2003 and successfully turned it around, leading to its privatization in 2006. This partnership expanded FTN's cocoa processing capabilities.
Scale indicators8 records
Recent moves11 records
Expansion highlights5 records
FTN Cocoa processors competitors and assessment
Company assessmentRegional players
- SIAT Group: Belgian-African agro-industrial group with palm oil and cocoa operations in West Africa. Comparable in tropical oil processing (palm kernel) and presence in the same West African agricultural value chains as FTN.
- Presco Plc: Nigerian-listed palm oil and palm kernel processor operating from the same country as FTN. Comparable in the palm kernel crushing and specialty oils processing segment, with refined palm oil as a key output.
Direct peers
- JB Cocoa: Cocoa processor operating grinding facilities in West Africa serving European and Asian chocolate manufacturers. Comparable processing-capacity scale and product portfolio (cocoa liquor, butter, powder).
- Cocoa Processing Company (CPC, Ghana): Ghanaian state-linked cocoa processor producing cocoa butter, powder, and liquor for export. Closest sub-Saharan African public-listed peer in cocoa processing capacity, product mix, and export orientation.
- ECOM Agroindustrial: Major cocoa trader and processor with significant West African origin operations. Operates cocoa processing capacity serving the same European chocolate manufacturers that FTN supplies, including companies like Delfi Cocoa and Indcresa.
- Delfi Cocoa: European cocoa products supplier with grinding/processing operations serving industrial chocolate makers. While FTN is a supplier to Delfi's affiliate (mentioned as a buyer), Delfi itself is the closest Europe-facing peer in the same cocoa semi-finished products category.
- Niche Cocoa Industry: Ghanaian cocoa processor producing cocoa liquor, butter, cake, and powder for export markets. Closest direct comparable to FTN in scale and product mix within the West African cocoa processing landscape.
Broad incumbents
- Barry Callebaut: Global market leader in industrial chocolate and cocoa products, operating cocoa processing facilities in West Africa. Comparable product portfolio (cocoa liquor, butter, powder) and overlapping customer base of multinational chocolate/confectionery manufacturers.
- Cargill Cocoa & Chocolate: One of the world's largest cocoa processors and chocolate manufacturers with extensive operations across West Africa. Directly comparable to FTN as it sources cocoa beans from the same Nigerian/Cameroonian growing regions and supplies cocoa liquor, butter, and powder to global chocolate makers.
- Olam Agri: Global agri-business with substantial cocoa origination and processing operations in West Africa (including Nigeria and Côte d'Ivoire). Competes for the same raw cocoa bean supply and serves similar downstream confectionery customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks1 record
Key highlights6 records
Customer concentration
FTN Cocoa processors financial estimates
Financial estimateRevenue estimate
Valuation estimate
FTN Cocoa processors leadership team
Management profileNumber of profiles
Profiles10 records
FTN Cocoa processors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FTN Cocoa processors M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FTN Cocoa processors
What does FTN Cocoa processors do?
FTN Cocoa Processors Plc processes locally sourced cocoa beans into cocoa butter, cocoa cake, cocoa powder, and cocoa liquor for both export and domestic markets, and processes palm kernel seeds into crude palm kernel oil and palm kernel cake for industrial buyers. The company operates a 20,000 MT per annum cocoa factory and a 20,000 MT per annum palm kernel crushing facility in Ibadan, Nigeria, along with a 50 MT per day vegetable oil refinery from Desmet of Belgium.
Is FTN Cocoa processors a public or private company?
FTN Cocoa processors is a public company. It is classified as public and is currently operating.
When was FTN Cocoa processors founded?
FTN Cocoa processors was founded in 1991. It employs 11 to 50 people.
Where is FTN Cocoa processors based?
FTN Cocoa processors is headquartered in Lagos, Nigeria, in the Africa region.
How does FTN Cocoa processors make money?
Two revenue lines are on record. Cocoa Products Sales are the primary driver. The others are palm Kernel Products Sales.
Who are FTN Cocoa processors's main competitors?
Regional players on record are SIAT Group and Presco Plc. Direct peers are JB Cocoa, Cocoa Processing Company (CPC, Ghana), ECOM Agroindustrial, Delfi Cocoa and Niche Cocoa Industry. Broad incumbents are Barry Callebaut, Cargill Cocoa & Chocolate and Olam Agri.
Does FTN Cocoa processors have an API?
No public API is recorded for FTN Cocoa processors.