Commodities

'Much of the challenge of reducing deforestation in 2021 comes down to accountability'. Pic: Satelligence

Guest article

The road to 0% deforestation for confectionery FMCGs

By Alan Kroeger

Over the past three decades, the rate of deforestation around the world has noticeably declined. This comes against an ever-increasing societal pressure from consumers and governments for more sustainable food products, which applies to everything from...

Cocoa futures have been performing poorly since the beginning of the year. Pic: ConfectioneryNews

Commodities

Production surplus could weigh down cocoa futures in Q2

By Anthony Myers

Increased output from Cote d’Ivoire and Ghana, along with decline in European cocoa bean usage due to the resurgence of COVID-19 infections means a production surplus projected in the 2020-21 season, with cocoa futures on the commodities market underperforming...

Olam expects a more favourable market condition in 2021, after posting a strong set of results. Pic Olam International

Financial results

Olam reports robust 2020 performance

By Anthony Myers

Olam has reported a strong operating performance across its new structure, which includes its cocoa business in Olam Food Ingredients (OFI).

Analysts are predicting a large surplus of cocoa on the market, even after a global vaccination roll-out. Pic: ConfectioneryNews

Special Report: Post Pandemic Trends 2021

Downward trend in cocoa prices continues, despite COVID-19 vaccinations

By Anthony Myers

In its latest Monthly Cocoa Market Report, the International Cocoa Organization (ICCO) has revealed that anticipations of a production surplus compounded with low levels of demand have contributed to the decline in prices in cocoa from January 2021 on...

The level of cocoa in Europe's warehouses is down by 1.5%, according to the ICCO. Pic: ConfectioneryNews

Cocoa

ICCO latest assessment of European cocoa bean stocks show 1.5% reduction

By Anthony Myers

In its latest update, the ICCO’s (International Cocoa Organization) assessment of European cocoa bean stocks for the 2019/20 season held in the continent’s warehouses reveals a reduction of 1.5% (down by 11,734 tonnes), compared with the previous season.

Sales of cocoa beans have fallen in Cote d'Ivoire. Pic: CN

Cocoa

Cote d’Ivoire’s cocoa exports plummet as COVID and LID disrupt market

By Anthony Myers

Sales of Cote d’Ivoire’s cocoa crop are the worst in decades, industry sources say, as COVID-19 drives down global demand for chocolate and the controversial Living Income Differential (LID) increases the price of its, and neighbouring Ghana’s, cocoa...

ECA reports a decline in European cocoa grind figures Pic: ConfectioneryNews

Coronavirus

Coronavirus crisis affects European cocoa grinds

By Anthony Myers

Cocoa grinding figures across Europe, the indicator of the demand for cocoa for chocolate and confectionery production, declined in the 3rd quarter of 2020 by 4.7% on the same period the previous year, the European Cocoa Organization (ECA) reports.

 Mars said it remains committed to working with others to create a sustainable cocoa supply chain in-line with its Cocoa for Generations strategy. Pic: Mars Wrigley

Sustainability

Mars welcomes minimum price guarantee for cocoa farmers in West Africa

By Anthony Myers

Cote d’Ivoire and Ghana, the world’s largest cocoa producers, have hiked up their minimum price guarantee given to farmers by 21% for the 2020-2021 growing season that starts in October, and has support of major chocolate companies including Mars Wrigley.

Pic: ConfectioneryNews

Commodities

ICCO halves its cocoa surplus estimate for 209/20 season

By Anthony Myers

The impact of the coronavirus pandemic has led the International Cocoa Organization (ICCO) to halve its forecast for the expected global cocoa surplus in the 2019/20 season as demand for beans from chocolate manufactures slows.

Cargill's annual report highlights the company's response to the COVID-19 pandemic. Pic: Cargill

Reporting

Cargill annual report: ‘A year like no other’

By Anthony Myers

Global agri-food company’s annual report highlights team members’ agility and perseverance while helping customers and communities navigate the COVID-19 pandemic.

Ghana to increase its cocoa output by 5.8% in next growing season

Ghana

Ghana to increase its cocoa output by 5.8% in next growing season

By Anthony Myers

Ghana is the world’s second-biggest cocoa producer, after its West African neighbour, Cote d’Ivoire. Its main growing season runs from October to September, and while output may increase - a glut in the global market has raised wider concerns about lower...

Olam remains confident it can weather the Covid crisis. Pic: Olam International

Financial results

Olam reports resilient performance in H1 2020 with 44.4% growth

By Anthony Myers

Global food and agri-business, Olam Group, has reported strong results for the first half of 2020 and claimed to make good progress on its Strategic Plan (2019-2024) and Re-organisation Plan announced in January 2020.

Cocoa is the backbone of Ghana’s economy. Pic: Barry Callebaut

In brief

Cocobod set to increase price of Ghana’s cocoa

By Anthony Myers

The Ghana Cocoa Board (Cocobod) is set to raise the price of cocoa in a bid to offset low exports amid the coronavirus pandemic and heavy rains affecting this season’s crop.