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...The trade body collates data from 19 cocoa processors and chocolate makers operating in Europe, including Cargill, Barry Callebaut and Olam Food Ingredients (OFI)....
...Hedge funds have probably the “biggest risk exposure to cocoa that they’ve ever had”, said Martijn Bron, who was global head of cocoa and chocolate trading for agricultural commodities giant Cargill until...
...However, soaring cocoa prices could hit demand if chocolate makers raise prices much further....
...The UK company was founded by entrepreneurs Angus Thirlwell and Peter Harris to sell premium chocolate with higher cocoa content and less sugar than incumbents....
...The US company said it has planned for “potential customer disruption” in Europe as record-high cocoa markets led it to raise prices again this year....
...Email us your chocolate alternatives: robert.armstrong@ft.com and ethan.wu@ft.com....
...Smart read Climate change is bad news for chocolate lovers, according to this FT Big Read by Susannah Savage, which tracks how farmers’ worsening conditions in Ivory Coast and Ghana are pushing up cocoa...
...Chocolate means different things to different children. For kids in rich countries, it is a brightly packaged, delicious treat....
...and the chocolate industry....
...The Vietnam Coffee and Cocoa Association cited a report warning that coffee production could decline as much as 20 per cent in 2023....
...Just over a year ago, a campaign group called International Rights Advocates sued seven big western companies involved in the chocolate trade — Nestlé, Hershey, Cargill, Mars, Mondelez, Barry Callebaut,...
...Buyers of cocoa beans, the main chocolate ingredient, normally purchase the commodity from traders that source directly from Ghana and Ivory Coast....
...Olam said it had relied on extensive GPS and mobile technology while Cargill’s payments for cocoa in Ghana are now all done via mobile phone....
...Job moves Danone has chosen Antoine de Saint-Affrique, who has run Swiss cocoa and chocolate manufacturer Barry Callebaut since 2015, as its chief executive....
...Today the price of cocoa beans, a key ingredient for Cadbury’s chocolate products, are far from the peak prices of 2016, or even the mini-peaks a few years later. But markets are tightening....
...Global stocks of cocoa, the starting point for chocolate, are falling towards 30 per cent to 35 per cent of demand, as this year’s projected deficit triggers a further drawdown....
...As well as seeking to raise cocoa prices, Ghana wants to incentivise chocolate manufacturers to grind cocoa beans domestically....
...Large processors, traders and chocolate companies including Cargill, Olam, Barry Callebaut and Mars have been publicly supportive on the two countries’ move....
...Cadbury was the listed descendant of the temperance-inspired cocoa, coffee and tea business set up by Quaker John Cadbury in 1824....
...But the returns are rarely enough for farmers to break even, despite Ghana’s place as the world’s second-largest cocoa producer — supplying about a fifth of the beans used by the $100bn chocolate industry...
...These are the cocoa processors, wholesale suppliers of cocoa products: Barry Callebaut of Switzerland, Cargill of the US, and Olam based in Singapore. They are also a powerful presence in the market....
...“Demand for chocolate [in Asia] has been going up and continues to go up,” said Harold Poelma, president of Cargill’s cocoa and chocolate business....
...When he was buying cocoa for Mars 15 years ago, the specification was “west African flavour”....
...The sustainable development category includes Divine Chocolate, owned by cocoa farmers, which sells premium Fairtrade chocolate worldwide, and LittlePod, which produces food made with sustainable real vanilla...
...Cargill, another leading processor, on Thursday mentioned cocoa products as one of the contributors to strong earnings....
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