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.
The Singapore-based agri business (which includes ofi - its cocoa and ingredients division) has reported Operational PATMI (profit after tax and minority interest) of S$184.0 million ($136 million) so far this year.
The Singapore-based agribusiness said it remains ‘cautiously optimistic' about its prospects for 2023’ despite reporting 24.5% lower earnings of S$200.0 million (US$148.52m) for the year ending 31 December 2022.
Agri-business giant Olam International has launched a digital platform, AtSource, that provides detailed information about its supply chains. The company hopes the data and insight on the platform will allow its customers to be more transparent with their...
The cocoa and spice supplier unveiled sustainability goals in 2017 with a 2020 goal of nurturing a ‘fully traceable’ cocoa supply chain. We discussed progress with Olam's North American innovation lead, when we caught up with him at IFT.
With Asia’s interest in cocoa and chocolate at an ‘all time high’, Olam Cocoa has identified three key factors fuelling the region’s rising demand which looks set for continued increase across the next five years.