Cocoa

Ivory Coast Raises Cocoa Farmgate Price By 20%

Ivory Coast has raised the fixed farmgate price paid to cocoa farmers by 20% the country’s agricultural minister said on Monday.

Ivory Coast’s Coffee and Cocoa Council (CCC) regulator has significantly curbed the hoarding of beans in September due to sanction threats.

A spokesperson for Hershey said on Thursday that the chocolate maker laid off a small number of its employees this week.

The weather in Ivory Coast’s main cocoa-growing regions has been getting sunnier in the past week, allowing beans to mature.

Barry Callebaut has halted production at one of its Mexican plants after it found that it did not meet quality standards.

Cooler-than-normal temperatures in the Ivory coast have raised some concerns for cocoa farmers regarding the crop.

Nestlé may flag more price hikes when it reports first-half earnings on Thursday, making its brands more expensive by Christmas.

Lindt posted first-half organic sales of 2.16 billion Swiss francs, in line with expectations, and announced a share buyback programme.

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