Indonesian sugar consumption is set to rise 12% this year and could benefit the country’s leading confectioner Petra Foods. On the flip side, multinationals may see it as a chance to grow market share.
Singapore-based Petra Foods has reported first quarter profit gains in its branded consumer division driven by rising chocolate consumption in markets such as Indonesia and the Philippines and improved margins by introducing more premium products.
The Indonesian Palm Oil Association (GAPKI) has withdrawn from the Roundtable on Sustainable Palm Oil (RSPO), which currently offers the only international audit scheme for producers of certified sustainable palm oil (CSPO).
Vietnam looks set to become one of Asia's primary cocoa producers,
with the government pledging to invest 40 billion
dong (€1.8m) in the country's burgeoning cocoa trade, according to
local news reports.