trading
Ivory Coast and Ghana Cocoa Initiative moves to prevent low value crop sales to support farmers
A major move to support farmers in West Africa has been confirmed by the Ivory Coast and Ghana in deciding to no longer sell their cocoa at origin differentials below zero, from as much as 125 pounds below the ICE terminal market, writes Neill Barston.
Business news, Cocoa & chocolate, Packaging, Processing, Regulatory, Sustainability
Exclusive: Fairtrade prepares for World Confectionery Conference with fresh warning on threat to cocoa sustainability
As he returns once again to our conference, Jon Walker asserts that despite his belief in the ongoing mission of Fairtrade, the cost of living crisis around the world holds major challenges for those farming in the West African cocoa market.
Business news, Cocoa & chocolate, Ingredients, New products, Regulatory, Sustainability
Global cocoa markets continue to face pressure, according to ICCO figures
Latest global cocoa production figures from the International Cocoa Organisation (ICCO) have revealed that international markets face continued challenges, with prices falling 9% in London and 6% on the New York exchange during October, with a problem of oversupply proving a key factor, reports Neill Barston.
Business news, Cocoa & chocolate, Ingredients, Processing, Regulatory, Sustainability
Industry warning of further festive store shelf shortages over Brexit supply chain concerns
An industry warning has been issued that the UK faces further potential supermarket shelf shortages – including confectionery, snacks and bakery aisles, amid Brexit-related supply chain complications, reports Neill Barston.
Business news, Cocoa & chocolate, Food safety, Ingredients, Regulatory, Sustainability
Germany’s confectionery sector feels the pinch of Brexit just as equally as the UK
The latest warning from Germany’s BDSI confectionery sector organisation that its exports remain notably challenged due to Brexit offer further evidence that the matter is far from settled across Europe.
Business news, Cocoa & chocolate, Regulatory, Sustainability
Olam seeks premium listing on the London Stock Exchange
Olam International has made a significant move to confirm its operating group, OFI food ingredients division including cocoa, is targeting a primary listing on the premium segment of the London Stock Exchange, as well as a listing in Singapore, writes Neill Barston.
Olam reports sustained half-year growth for its businesses including cocoa production
The global food and agri-business Olam Group has posted a key upturn in its half-year results, with profits standing up at $421 million for the period, up 26%, for the business, after a major re-organisation of its activities, reports Neill Barston.
Business news, Cocoa & chocolate, Ingredients, New products, Processing, Regulatory, Sustainability
Mars Wrigley UK issues product recall after genetically modified organism found in ingredients
Mars Wrigley UK has confirmed that it has recalled a number of its M&Ms Crispy ranges as it reported the presence of a genetically modified organism (GMO) in an ingredient produced by a supplier, writes Neill Barston.
UK chocolate exports to EU drop 36% over two years amid Brexit and Covid-19 pressures
Export values of chocolate from the UK to the EU have fallen significantly from 2019 to 2021, with figures down 36.9% (to £99 million), as the wider food and drink sector markets trade to the European bloc drops by a total of £2 billion in the past two years amid Brexit and Covid-19 impacts, reports Neill Barston.
Business news, Cocoa & chocolate, Ingredients, New products, Regulatory, Sustainability
MIA ethical chocolate confirms pledge of ensuring production entirely in Madagascar
Ethical chocolate business MIA (Made In Africa)’s latest impact report has shown that it has ensured delivery of a pledge promising its entire production volume was made at source in 2020, despite challenges of operating amid the ongoing coronavirus crisis, reports Neill Barston.
Business news, Cocoa & chocolate, New products, Processing, Sustainability
Hershey reveals improved annual results despite pandemic
US-based Hershey has released its latest annual results that reveal net sales of $8.1 billion, up by 2% in 2020, despite the ongoing trading tests of the coronavirus pandemic, reports Neill Barston.
Business news, Cocoa & chocolate, Ingredients, Processing, Regulatory, Sustainability
Hershey banned from sustainability programmes in Ivory Coast and Ghana
US confectionery business Hershey has been banned from sustainability projects in Ghana and Ivory Coast, after reports the business bought significant quantities of cocoa on the New York Futures commodities market, writes Neill Barston.
Business news, Cocoa & chocolate, Ingredients, New products, Processing, Regulatory, Sustainability
The Fine Chocolate Industry Association launches new trading site to assist businesses
The US-founded Fine Chocolate Industry Association (FCIA) has unveiled “Make Mine Fine”, an online marketplace featuring specialty chocolates from across America and other key global markets to support businesses affected by coronavirus trading restrictions.
Business news, Cocoa & chocolate, Ingredients, New products, Regulatory, Sustainability
Olam records lower profits amid trading challenges
Olam International, the global cocoa and ingredients business, has reported a third quarter dip in profits, down 14.2% to $20.7 million and nine month profits down 13.6% to $272.6 million, which it attributed to ongoing challenging trading conditions.