COCOA SALES
Sweet Profits, Bitter Reality: Who gains the most from the cocoa price surge?
The cocoa industry is facing significant shifts as cocoa prices soar, driven by poor harvests in West Africa. While prices have surged to record highs, small-scale producers in regulated countries like Ivory Coast and Ghana see limited benefits due to pre-set prices. Meanwhile, less regulated countries like Cameroon and Nigeria gain more from market trends. Major processors struggle with high costs and production slowdowns. Climate change, bean disease, and low farmer incomes exacerbate the situation, leading to child labor and land sales. Despite these challenges, major chocolate companies continue to report significant profits.
Stable government, good rains augur well despite costly cocoa: Mondelez
Mondelez Foods, known for Cadbury and Oreo, anticipates recovery in India due to a good monsoon and stable government. However, record cocoa prices may affect pricing and demand, says Samir Jain, Mondelez India's president.
5 world market themes for the week ahead
Central bank decisions in Britain, Switzerland, and Norway will show the rate cutting trend, while retail sales data from the US and China will indicate consumer health. Europe gears up for the Euros 2024 tournament in Germany. Investors are monitoring cocoa supply issues in Ivory Coast, Ghana, and other countries like Brazil.
Ivory Coast bans some cocoa sales in another threat to market
Ivory Coast takes steps to secure scarce cocoa supplies for local processors, potentially restricting bean exports and tightening the global market.
Why the world of chocolate is in crisis
For the world’s chocolate makers, the crisis is here. Plants have been forced to shutter from Malaysia to Germany and Chicago.
Cocoa Conundrum: Chocolates and problems of the commodity cycle
The cocoa industry has faced challenges like price fluctuations and market manipulation, causing concerns about chocolate's future. Despite cocoa prices soaring 140 per cent this year, similar worries arose in the past without major chocolate shortages. Market manipulation, especially by traders like 'Chocfinger,' impacts cocoa's stability. Small farmers, mostly in Africa, face hardships as price hikes don't significantly benefit them. India's cocoa production struggles due to complexities in processing and market dynamics.
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Chocoholics Beware: Get ready to pay higher for chocolates, ice creams and cakes as cocoa prices skyrocket in India
The soaring cocoa prices are causing ripples in the chocolate and ice cream industry. Amul considers a substantial hike in chocolate prices due to cocoa bean costs rising to Rs 800/kg from Rs 150-250/kg. However, it plans to maintain ice cream prices. Baskin Robbins also feels the pinch but refrains from immediate price increases. Havmor Ice Cream, anticipating this challenge, aims to uphold current pricing through strategic measures.
It's a bittersweet Easter for chocolate lovers but big companies see profits
With exports from the Ivory Coast, the world's top producer, down by a third in recent months, the global price of cocoa has risen sharply. Cocoa futures have already doubled this year, trading at a record high of more than $10,000 per metric ton in New York on Tuesday after rising more than 60% the previous year. Farmers who harvest cacao beans say the increases aren't enough to cover their lower yields and higher production costs.
Cocoa’s relentless rally is pushing the market to breaking point
Cocoa futures have surged as poor harvests in West Africa, where most of the world’s beans are grown, sparked a third year of shortages.
45-50% growth in Amul’s summer product categories likely this year: MD
Amul India navigates cocoa price surge impact by passing on costs to consumers. However, as Amul is still a value for money brand, it would pinch the consumers much. Partnerships with CAMPCO aid cocoa bean producers. Expansion into the US fresh milk market and focus on ice cream and beverage SKUs drive growth expectations of 45-50%.
The meltdown in chocolate is coming
Only because millions of West African farmers saw cocoa as their only way to escape abject poverty, the world had plentiful supply and low prices.
Cote d'lvoire looking for direct sale of cocoa products to India
Cote d'Ivoire, the largest cocoa producer in the world, is looking to explore the Indian market for direct marketing of cocoa and cocoa-based products. The cocoa regulator, Le Conseil du Cafe-Cacao, plans to visit India next month to seek market access, investors, and partnerships for processing cocoa in Cote d'Ivoire. f
Chocolate could get even pricier if Africa’s cocoa crop flops
Analysts at Rabobank and Marex expect West African output to drop in the 2023-24 season. Marex forecasts the global deficit at 279,000 tons, more than the previous two shortfalls combined.
How West Africa can reap more profit from the global chocolate market
The continent of Africa contributes to 70% of the global raw cocoa beans production. However, in the multibillion dollar global chocolate industry, it produces just 1% of the chocolate.
Chocolate cravings are going to get more expensive to satisfy
Heavy rains and a rot-causing disease have ravaged crops there, sparking concerns about supply. Bean processing has also slumped around the world which is crucial for turning products into chocolate indicating that factories are struggling to access adequate volumes, according to Fuad Mohammed Abubakar, the head of Ghana Cocoa Marketing Company UK.
Robusta coffee hits record high, cocoa also climbs; lack of sales from Brazil causes surge
Robusta coffee futures have hit a record high due to limited supplies, with dealers reporting that Indonesia's No. 2 export crop has left buyers struggling to obtain beans and Vietnam, the world's largest robusta exporter, experiencing farmers selling out. Newly harvested robusta crops in Brazil are also being limited due to strong coffee demand domestically.
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Etail's contribution to total sales reaches double digit for many daily products
CEOs said the way e-grocers, Amazon, Flipkart, food delivery apps and online apps of brick-and-mortar grocery chains are focusing on instant and faster FMCG delivery, boosting ecommerce even when modern retail has made a sharp recovery in the last three months.
FMCG sales set for double-digit rise in Q2
ICICI Direct forecast a double-digit increase in sales for HUL's home care, beauty and personal care and foods segments, thanks to the revival in the home care and personal care segments.
Mondelez to invest in cocoa research and cultivation in few states
At present, the maker of Cadbury and Oreo, gets about 30% of its raw materials from India while the rest is imported, mainly from Africa. The snacking company invests about Rs 2 crore annually on cocoa research in the country as it is not a native crop and also promotes cocoa farming through its Cocoa Life program (earlier known as Cadbury Cocoa partnership) in the four southern states of Kerala, Karnataka, Tamil Nadu and Andhra Pradesh.
More than beans: Nestle recycles cocoa fruit waste to replace sugar in chocolate
Nestle is sourcing the raw material from cocoa farms in Brazil, but also working with partners in West Africa to see if pulp production could work there. Von Maillot said cocoa farmers could boost their income by 20-40% if they also sold the pulp.
Sale of hot beverages witness a steep rise amid Covid-19 scare
Retailers like Metro Cash and Carry, Walmart, Lots Wholesale, MaxWholesale and others have witnessed an increase of 30%-160% in the sale of these products compared to the pre-covid days.
Farmers, chocolatiers look to create a market for Indian-flavoured chocolates
Chordia estimates at least 30 bean-to-bar chocolate makers will hit the scene by 2020.
Chocolate production may be harming environment: Study
Scientists found that the UK chocolate industry produces about 2.1 million tonnes of greenhouse gases in a year. This is equivalent to the annual emissions of the whole population of a city as large as Belfast. It also found that it takes around 1,000 litres of water to produce just one chocolate bar.
Valentine's Day is around the corner but the global chocolate supply has been hit by cocoa shortage
This year’s gains for cocoa are a stark reversal from the last two years.
Cocoa may be cheap, but chocolate still dear
Apart from a few major chocolate companies, the others in India depend on imports from West Africa or South East Asia for their requirements.
Chocolate makers stare at cocoa crunch, look for new raw materials
With chocolate demand on the rise in India, China and everywhere else, the world is estimated to have consumed 70,000 metric tonnes of cocoa more than what it produced last year.
Cocoa rises on speculation on rebuilding stocks by chocolate makers
In London, cocoa jumped as much as 0.9% to 1,781 pounds ($2,868) a tonne, the highest since September 21, 2011.
Chocolate rush hits a record as cocoa supplies wane
Prices will rise as much as 8.3 per cent to 1,665 pounds a tonne in the first half of 2013, according to the mean of 17 analyst estimates.
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