Olam profit grows despite 10.5% drop in revenue for confectionery and beverage

SINGAPORE - The global agribusiness company Olam International, has reported profit growth in the 2018 first quarter results despite 10.5% drop in revenue for its confectionery and beverage segments on both lower volumes and prices. Olam reported US$274.18 million in EBITDA lower than that of Q1 2017 which stood at US$296.9 million. During the quarter…

Ghana develops new global standard for sustainable cocoa

GHANA - Ghana has developed a new global standard that will be used to measure cocoa quality level internationally, raising its cocoa pricing image on the international market, as reported by  GNA. The new standard which ensures sustainable cocoa production has been adopted by International Standards Organisation (ISO), an international standard-setting body to be used…

Starbucks and other roasters to serve coffee with acrylamide cancer warnings

USA - A California judge has ruled that coffee sellers and vendors in the state have to serve coffee with acrylamide cancer warnings; these include bigger coffee makers such as Starbucks. According to the judge Elihu Berle’s ruling, Starbucks and other coffee makers did not show that the risk from consuming acrylamide, a possible cancer-causing…

Java House considers entry into Nigeria to double investment in domestic market

KENYA - Java House, Kenya’s chain of coffee houses will double outlet numbers in the domestic market in the next two years before rolling out expansion into and out of East Africa, with plans to enter Nigeria. In an interview with Reuters, the Chief Executive Paul Smith said the plans include a debut of 25…

Nestlé pays Starbucks US$7.1b for rights to sell coffee and products globally

SWITZERLAND - Nestlé has announced an agreement granting the company perpetual rights to market Starbucks consumer and foodservice products globally, outside of the company’s coffee shops. Starbucks will receive an up-front cash payment of US$7.15 billion for a business which generated annual sales of US$2 billion, as part of the transaction agreement. According to the…

Nestle Cameroon opens a new ‘Nido’ powdered milk unit

CAMEROON - Nestle Cameroon has opened a new 5,500 tons per year capacity milk production unit for its ‘Nido’ powdered milk products at its processing facility in Douala, Cameroon. The US$5.04 million investment means to create 12 additional jobs at its Douala-Bonabéri plant and has the potential to create 48 new jobs in the coming…

Uganda’s Café Javas enters the Kenyan market to compete Java House

KENYA - Café Javas, the Ugandan restaurant has entered the local market, having opened a new branch in Nairobi to compete the Kenyan chain of coffee houses, Java House as reported by Business Daily. Café Javas is operating in Kenya’s capital Nairobi under the name CJ’s, prompting competition between the two trademarks, which in 2016…

Costa Coffee to recycle 500m disposable cups yearly by 2020

UK - Costa Coffee, the British coffee company has made a commitment to recycle the same volume of disposable cups as it puts onto the market, half a billion every year by 2020. To achieve this, Costa will pay coffee cups collectors a subsidy to enhance their collection then send them to paper mills where…

EU’s legislation to reduce the level of acrylamide in coffee and confectionery

UK - The European Union’s regulations are set to become into law, requiring food manufacturers to reduce the amount of acrylamide used in packaged foods including biscuits, cookies and coffee. The regulation reduces the amount of acrylamide permissible for various food products, ranging from 350 micrograms (μg) of acrylamide per kilogram for biscuits and cookies…

Hershey Company announces its holistic cocoa sustainability strategy

USA - The Hershey Company, an American company and one of the largest chocolate manufacturers in the world has announced Cocoa For Good, its holistic cocoa sustainability strategy. This comprehensive strategy addresses the most pressing issues facing cocoa-growing communities: poverty, poor nutrition, at-risk youth, and vulnerable ecosystems. According to the company, it seeks to bring…