Kraft Heinz completes acquisition of Ethical Bean Coffee assets

CANADA - Kraft Heinz, an American food company, has announced that it has completed the acquisition of the assets of Ethical Bean Coffee, a Canadian Cafe & coffee roaster. Founded in 2003, Ethical Bean Coffee is a leading roaster of 100% Fairtrade, certified organic coffee. Based in Vancouver, British Columbia, Ethical Bean is committed to…

Coca-Cola Company to acquire Costa coffee for US$5.1b

USA - The Coca-Cola Company has announced that it has reached a definitive agreement to acquire Costa Limited, valued at US$5.1 billion, giving it a strong coffee platform across parts of Europe, Asia Pacific, the Middle East and Africa, with the opportunity for additional expansion. Costa Limited, from parent company Whitbread PLC, was founded in…

Phone-maker Xiaomi crowdfunding to launch new range of premium beverages, Pingze tea

ASIA - Xiaomi, the Chinese electronics manufacturing firm is carrying out a crowdfunding with an aim to venture into premium drinks segment with new launches of tea drinks from the brand Pingze set for this month. According to FoodNavigator Asia, Pingze tea drinks has already reached the funding target which stands at around 386% of…

COCOBOD opens Shea office as government plans to set up board by 2024

GHANA - The government cocoa regulatory agency, Ghana Cocoa Board (COCOBOD) has opened a Shea Unit Office in Tamale to serve as an operational secretariat to develop the industry through supply chain in the region. Meanwhile, the government is planning to set up a Shea Development Board by 2024 in a bid to transition the…

COCOBOD to pump US$600m into cocoa sector to revive the industry

GHANA - The Ghana Cocoa Board (COCOBOD) will invest US$600 million into the cocoa sector in a way to revive the industry in the country, GNA reports. Making the announcement, Mr Joseph Boahen Aidoo, the Chief Executive of COCOBOD said the board had almost finished negotiations to secure the credit facility from the African Development…

COCOBOD to introduce organic fertilizer on cocoa farms

GHANA - The Ghana Cocoa Board (COCOBOD) has unveiled plans to introduce use of organic fertilizer on cocoa farms in another strategy to increase yields and cocoa production in the country. The fertilizers will help in enriching the soil as opposed to use of chemicals and weedicides that has affected the soil fertility and yields…

Unilever Tea announces voluntary early retirement at its Kericho tea plantations

KENYA - Unilever Tea Kenya (UTK), a subsidiary of the British consumer goods giant Unilever Plc has announced a Voluntary Early Retirement scheme to cut on the number of staff at the Kericho-based tea plantations, Business Daily has reported. Unilever East Africa Corporate Affairs Director, Joseph Sunday the planned reorganisation was part of routine business…

Indian tea major Goodricke to increase packet tea portfolio and private sales

INDIA - Goodricke Group, West Bengal based tea company has said it will be increasing the capacity of its packet tea business from 8.8 million kg to 12 million kg by next year. It also plans to focus more on private sales and send less produce to auction in order to fetch better prices for…

Parliament approves COCOBOD’s US$1.3bn trade finance for cocoa

GHANA - A US$1.3 billion trade finance facility between Ghana Cocoa Board (COCOBOD) and a consortium of banks and financial institutions for the purchase of cocoa for the 2018/2019 crop season has been approved by the parliament. The facility holds the government of Ghana as the guarantor and was granted on merit that cocoa industry…

Kenya loses UK horticulture market share on ‘incompetent’ standards

KENYA - A study by the Overseas Development Institute (ODI) has revealed that Kenya lost on all of its top three exports to the United Kingdom that is tea, cut roses and beans. According to the report, exports to the UK from the rest of the world have risen by 15% in eight years to…