LEADING INSURER Dyoll has applied for a licence from the Coffee Industry Board (CIB) to market its subsidiary Dyoll Wataru Coffee Company as an estate brand.
This announcement was made during the insurance company's recent annual general meeting (AGM) held at the Courtleigh Hotel, New Kingston.
This in effect means that the company does not have to use the CIB for marketing and processing purposes but can instead undertake those vital operating functions itself.
At present Dyoll Wataru Coffee Company operates a 250-acre farm with a spread of a 100 acres of coffee trees located at Mount Airy, St Andrew, just behind Stony Hill. With demand, the farm can be expanded and will be able to produce 10,000 boxes of coffee annually. At this point in time Dyoll Wataru supplies coffee beans to the CIB for processing but the period between picking and delivering to the market place which is undertaken by the CIB (between 15 to 18 months) appears too long and therefore a cause for concern.
Dyoll Wataru is primarily aiming its coffee supply at the lucrative Japanese market with an eye to the United States and European markets in time to come. Wataru, who is Dyoll's partner in Jamaica is a leading wholesaler of coffee in Japan. The company owns Unicafe a major roaster that supplies industrial users such as the large brewing companies and the companies that have started the recent craze for liquid coffee.
Dyoll Wataru Coffee Company executive director, Mr. Mark Thwaites said:" The gourmet coffee market in Japan is a sizeable market in itself and Wataru is a big player there. With its position in that market place already established we are expecting good things. The synergies with our Japanese partner mean that a a Jamaican company can make its presence felt in a very important market place."
The company recorded a profit of just under $2 million dollars a slight increase on 1998's $1.7 million figure. This in itself was a notable achievement in a year when the industry was ravaged by rain, windstorm and political controversy.
