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.
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.
Palm oil trade between Malaysia and India has moved back on track with the latter running low on local stock and the former relaxing export tariffs as both countries move to repair a trade relationship wrecked by previous political clashing.
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...
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.
The coronavirus pandemic is having a negative impact on cocoa grinding, the indicator of the demand for cocoa for chocolate and confectionery production, said the Association of the German Confectionery Industry (BDSI).