Climate change will affect many industries, but few more than cocoa. While farmers on the ground struggle with fluctuating climatic conditions changing working practices, large companies grapple with environmental regulation.
Market update: Analysts have described the upward trajectory of cocoa prices as ‘parabolic’ as cocoa futures rose another 2.7% to a new record of $10,760 a ton in New York on Monday (15 April) before falling back to £10,000 a ton after the dollar index...
UPDATE: TUESDAY 26 MARCH 2024: Cocoa prices continued to rise this week. Earlier today the price of cocoa beans smashed through the $10,000 a ton for the first time in the futures market after posting gains all week - with chocolate makers passing on...
The El Niño weather phenomenon, which hit the west coast of Africa last year, carrying unseasonal heavy rains followed by dry heat, is the main factor in an 11% drop in the season’s main cocoa harvest, according to the latest figures from the International...
It was billed in the World Cocoa Foundation agenda as a ‘Fireside Chat.’ Still, the conversation was anything but cozy as the 2024 Partnership Meeting welcomed back Yves Brahima Koné, Cote d’Ivoire’s Coffee & Cocoa Council director general, and Joseph...
The African Platform for Sustainable Cocoa, which brings together civil society cocoa platforms from Côte d'Ivoire and Ghana, has issued a statement alleging the cocoa industry is refusing to pay at the current market price plus the Living Income...
Five million, mainly small-scale farmers produce 75% of the world’s cocoa, and earning a living income has become the key objective for the cocoa sector. Still, despite various initiatives, it hasn’t changed core business practices so far. According to...
Platform for Sustainable Cocoa in Cote d'Ivoire (PICD) and the Ghana Civil-society Cocoa Platform (GCCP) are calling on their respective governments to raise the price of beans for the important 2023-24 season to make sure farmers can receive a living...
A coalition of campaigners fighting to end environmental and human rights abuses in the cocoa sector has targeted coffee chain Starbucks to come clean on where it sources the ingredients for its chocolate products.
Nestlé has published a progress report on its Income Accelerator Program, which aims to support cocoa farmers in Côte d'Ivoire and incentivise them into greater productivity.
The long-term agreement with Nestlé will include payments for ecosystem services (PES) to more than 6,000 farmers covering 11,500 hectares of agroforestry in Côte d’Ivoire. The implementation of the project is already underway, with three cooperatives...
Mars Wrigley has declared that from 2023, 100% of the cocoa purchased for its direct factory operations in Europe will be verified as ‘responsibly sourced cocoa’.
ofi (olam food ingredients), a global leader in naturally good food and beverage ingredients, says it has substantially advanced towards the climate goals stated in its Cocoa Compass sustainability report – but issued a call for the EU to work with other...
Nestlé has partnered with NGO Earthworm and government agencies on the ground to preserve what is left of the Cavally forest reserve in Côte d’Ivoire. FoodNavigator speaks to Earthworm’s country head Gerome Tokpa to learn more illegal cocoa plantations...
During the partial COVID-19 lockdown in Côte d’Ivoire, a sharp rise in child labour was observed. Yet according to the International Cocoa Initiative, it is too early to attribute the increase to the pandemic alone.
Farmer organizations will be guaranteed a higher price for cocoa sales on Fairtrade terms, as part of foundation’s strategy towards enabling living incomes it said. Changes will come into effect October 2019.
Chocolate companies must know what truly constitutes cocoa child labor to be able to tackle the issue, according to the International Cocoa Initiative, which has unveiled a new strategy to combat the problem.
A sustainable cocoa supply chain is reliant on women, who provide a large portion of the labor and often invest earnings on items that benefit their community, says Mars Chocolate in a response to harsh criticism.
Oxfam has called on the three biggest chocolate manufacturers to conduct independent audits on conditions for women on cocoa farms supplying their factories after finding evidence of unequal pay, discrimination and hunger.
The International Cocoa Organisation (ICCO) anticipates a lower than expected global cocoa shortage in the 2011/12 season due to ideal weather conditions and higher grinds in some cocoa producing countries.
ADM (Archer Daniels Midland) Cocoa has extended its Unicao range of cocoa liquors produced from Ivory Coast cocoa beans, for use in premium milk and dark chocolate products.
Cargill’s drive to secure a good quality and sustainable supply of cocoa beans is filtering down to famers in Cote d'Ivoire as it has just made premium payments totalling more than US $2.2m.
There will be no dramatic drop in cocoa prices in the coming months as forecast by numerous speculators hoping to cash in on a downward trend, reports a cocoa market specialist.
Confectionery giant Mars predicts a major cocoa shortage by 2020 and reveals harmonization of global cocoa certification programmes to ensure meaningful income hikes for farmers is one of its sustainable cocoa project goals.
Lacklustre demand for cocoa in Europe and North America and expectations of an average crop next season will see cocoa prices remain steady over the coming months, claims a market analyst.
Leading cocoa processor Archer Daniels Midland (ADM) has announced it is kick-starting its Ivory Coast sustainable cocoa initiative – Serap – in Indonesia in a bid to boost cocoa quality from growers in that region.
Ivory Coast’s cocoa trade has been normalised, but uncertainly remains about the mid-crop, and and all eyes are now on the weather for the main crop, to be harvested this autumn, notes commodities specialist Rabobank it its latest review.
Ivory Coast cocoa exports are unlikely to resume by this week, said Mintel, in response to reports that the country will start shipping the commodity from the beginning of May.
Another milestone has been achieved in the UTZ certified sustainable cocoa programme, with the first-ever shipment of cocoa beans from Ghana that meets that standard’s economic, environmental and social criteria.
The food industry and cocoa traders have welcomed the EU decision to lift sanctions on the Ivory Coast ports and other Ivorian entities following an end to the crisis in the cocoa growing country.
Fears that almost 500,000 tonnes of cocoa beans stored in warehouses in the Ivory Coast would deteriorate are now subsiding with the perception that a political resolution is imminent in the cocoa growing country, according to Rabobank
There is still sufficient cocoa available on the market, despite political turmoil in the Ivory Coast situation, the International Cocoa Organization (ICCO) said yesterday, although there are concerns over cocoa damage over long storage periods.
The recent Ghana-Liberia agriculture pact is unlikely to have a major impact on the global cocoa industry; whereas Nigeria is a region to watch, according to Euromonitor.
Barry Callebaut has a contingency plan in place in light of ongoing Ivory Coast turmoil and has stepped up production at its cocoa processing facilities elsewhere to meet its customers’ needs.
Delivery of cocoa bean supplies to ports in the Ivory Coast appears to be unaffected by the recent political turmoil following last month’s election in the West African country.
With a larger crop and only modest growth in use, prices are expected to fall in 2011, according to Rabobank in its latest Agri Commodity market report. However further escalation of conflict in the Ivory Coast could send cocoa prices higher.
Cargill said its planned investment of $5m over the next three years in sustainable cocoa initiatives will help address the worst forms of child labour in cocoa growing communities in the Ivory Coast and Ghana.
Olam International is planning to invest $43.5m to build its first, large greenfield cocoa processing plant in the Ivory Coast as well as additional primary processing and warehouse facilities.
Recent cocoa bean price volatility is due in large part to hedge funds attracted by quick returns taking short-term positions on the commodity, according to a leading analyst.
A new cocoa buying station in Vietnam will support an ongoing programme of cocoa farming expertise transfer and shows the high expectations Cargill has for cocoa development in the country, said the industry chocolate supplier.
London cocoa prices hit a 23-year high at the end of December, but emerging questions about consumer demand could see prices fall in 2009, according to the International Cocoa Organisation (ICCO).
