Commodities

Climate change can significantly affect farmer working practices. Image supplied by author.

Cocoa feels the bite of climate change

By Augustus Bambridge-Sutton

Climate change will affect many industries, but few more than cocoa. While farmers on the ground struggle with fluctuating climatic conditions changing working practices, large companies grapple with environmental regulation.

Cocoa farmer John Narh Adamnor talking to Dr. Kristy Leissle from ACM about the low yield on his farm. Pic: ACM

Commodities

‘Cocoa has failed us,’ says Ghanaian farmer

By Anthony Myers

A new video produced by the African Cocoa Marketplace (ACM) reveals the plight of cocoa farmers in West Africa who struggle to grow enough beans to earn a living.

Should vanilla production be stopped? GettyImages/Diana Miller

Should vanilla production be stopped?

By Donna Eastlake

Vanilla is one of the most common flavours for sweet treats around the world. But is the farming of this much-loved spice sustainable? And, if not, should we be consuming it at all?

Cocoa prices continue to climb on the futures markets. Pic: CN

Commodities

Another week, another record high for cocoa prices

By Anthony Myers

Market update: Analysts have described the upward trajectory of cocoa prices as ‘parabolic’ as cocoa futures rose another 2.7% to a new record of $10,760 a ton in New York on Monday (15 April) before falling back to £10,000 a ton after the dollar index...

A farmer delivers cocoa beans to a processing facility in the Dominican Republic. Pic: CN

Special report

Global cocoa shortage puts pressure on suppliers and manufacturers

By Anthony Myers

While there is no indication the world is not about to run out of chocolate any day soon, there are concerns from manufacturers and suppliers that the current high prices and shortage of cocoa beans will push up costs further and, in some cases, restrict...

Ghana's regulator is set to raise the farmgate price for Cocoa. Pic: COCOBOD

Commodites

Ghana poised to raise its cocoa farmgate price

By Anthony Myers

Ghana will follow Cote d’Ivoire and raise the fixed farmgate price paid to cocoa farmers by up to 50%. The announcement could be made as early as the end of this week, ConfectioneryNews understands.

Cocoa beans are in short supply. Pic: CN

Commodities

Future of cocoa under threat as prices skyrocket due to bean shortages

By Anthony Myers

UPDATE: TUESDAY 26 MARCH 2024: Cocoa prices continued to rise this week. Earlier today the price of cocoa beans smashed through the $10,000 a ton for the first time in the futures market after posting gains all week - with chocolate makers passing on...

John Downs (right) mingles with attendees at this year's SOTIC in Miami. Pic: NCA

SOTIC 2024

Downs: US confectionery is robust enough to survive and thrive

By Anthony Myers

Confectionery’s resilience in the face of global inflationary pressures and the rising costs of raw materials has lifted John Downs, the National Confectioners Association’s (NCA) president and CEO, who said he is confident the category is in excellent...

The detrimental effect of unfavourable weather conditions is hitting global cocoa supplies. Pic: GettyImages

Commodities

ICCO predicts 11% drop in global cocoa output, after El Niño effect

By Anthony Myers

The El Niño weather phenomenon, which hit the west coast of Africa last year, carrying unseasonal heavy rains followed by dry heat, is the main factor in an 11% drop in the season’s main cocoa harvest, according to the latest figures from the International...

Predictions are for a global deficit of cocoa beans around 500,000 metric tons for the the current 2023-24 season. Pic: CN

Markets

ICCO urges major rethink as cocoa futures hit another record high

By Anthony Myers

Cocoa futures in London and New York rose to fresh record highs on trading platform ICE on Monday this week as increasing concern about supply shortages in Cote d’Ivoire and Ghana, the world's top two producers, left buyers scrambling for beans from...

Roel van Poppel. Pic: ofi

Appointments

ofi appoints new chief sustainability officer

By Anthony Myers

Leading commodities supplier ofi has announced Roel van Poppel as its chief sustainability officer (CSO), taking responsibility for scaling the group’s ability to drive positive impact across its five leading product platforms - cocoa, coffee, dairy,...

Tate & Lyle hits the sweet spot

Tate & Lyle hits the sweet spot

By Danielle Masterson

Ingredient solutions firm Tate & Lyle continues to build its sweetener portfolio as consumers shift from full-sugar to reduced-sugar offerings.

Image source: pierivb

Strengthening vanilla's supply chain through its farmers

By Deniz Ataman

While the vanilla industry is seeing low prices and low demand this year, Virginia Dare’s partnerships with 1,300 growers in Madagascar are focused on fortifying communities’ livelihoods through social, environmental and economic initiatives that help...

The rally of cocoa prices on the markets should mean farmers are paid more for beans. Pic: CN

Commodities

Tight cocoa supplies push up prices to meet strong global demand

By Anthony Myers

Cocoa prices climbed this week as the result of stronger global cocoa demand, with barchart.com reporting that Gepex, an exporter group that includes six of the world's biggest cocoa grinders, said that its Q3 cocoa processing was 183,731 MT, up...

A Brazilian court has found 'unlawful' working conditions in Cargill's cocoa supply chain. Pic: Cargill

Sustainabilty

Cargill accused of child labour practices on Brazilian cocoa farms

By Anthony Myers

Cargill, one of the world’s largest cocoa suppliers, has been ordered by a Brazilian court to pay 600,000 reais ($120,185) as indemnity for allegedly buying cocoa from farms where child labour or forced work has been identified.

Cameroon cocoa farmers are benefitting from better production facilities for their premium beans. Pic: The African Development Fund (ADF)

Cameroon raises cocoa farmgate price and sees uplift in output

By Anthony Myers

Cameroon has announced a significant increase in cocoa production over the past two seasons, with figures showing that the crop in the 2022-23 season was 681 tonnes, almost four times higher than the 182 tonnes recorded in 2020-21.

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.

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.