All news articles for September 2023

Olam Group Limited has guaranteed the sustainability loan to its ofi division. Pic: Olam Group

Finance

ofi secures $1,750m sustainability-linked loan

By Anthony Myers

The Olam Group Limited has announced that its wholly owned subsidiary, olam food ingredients (ofi), which includes its cocoa division, has secured a multi-tranche sustainability-linked facility aggregating $1,750 million.

Koa cocoa farmers celebrate the opening of a new facility to make the most of the cocoa pod. Pic: Koa Photography

Sustainabilty

Koa opens Africa's largest cocoa fruit factory in Ghana

By Anthony Myers

The Swiss-Ghanaian start-up Koa, whose aim is to transform the cocoa industry by upcycling parts of the cocoa fruit that are usually overlooked, has inaugurated Africa's largest cocoa fruit factory.

Love Cocoa's new-look designs for its premium chocolate. Pic: Love Cocoa

Packaging

Love Cocoa unveils ‘Modern Chocolatier’ rebrand

By Anthony Myers

The rebranding includes a stylish new logo and strapline - ‘The Modern Chocolatier’ - and the business has also embraced a brighter, bolder colour palette across the range while maintaining its signature gold foiling detail.

Cocoa prices hit record highs on the international markets this week. Pic: CN

Commodities

El Niño and consumer demand from China pushes up cocoa prices

By Anthony Myers

Cocoa traded on ICE Futures in New York hit a 12-year high of $3,640.50 per tonne on Wednesday (30 August), as analysts reacted to a consumer surge in chocolate, as well as the adverse impacts of the El Niño weather phenomenon on West Africa’s cocoa crop.