Ivory Coast eyes US$1.2 billion financing from EU to aid its gradual transition to sustainable cocoa production

IVORY COAST – The world’s leading cocoa producing country Ivory Coast, is set to clinch €1bln (US$1.2 billion) financing from the European Union over the next six years, to aid the country’s cocoa sector adapt to EU supply chain laws towards sustainable cocoa production, due to be introduced later this year. The loan will be provided under the “Team Europe” initiative set up by the institution to assist its member countries, with the resources expected to come from all 27 EU member states as well as financial institutions in the…

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Barry Callebaut partners Deloitte to help farmers in Indonesia modernize cocoa farming

INDONESIA – Barry Callebaut , one of world’s largest cocoa processors and chocolate manufacturers and Deloitte – one of the big four audit firms – have announced a multi-year partnership to accelerate the support for cocoa farming communities in Indonesia.  The multi-year strategic collaboration aims to equip Indonesian farmers with skills necessary for improving their cocoa farming ventures into modern, high income ventures. To this end, the companies plan to deliver educational and skills development programmes to over 30,000 cocoa farmers in Sulawesi and Sumatra. According to Barry Callebaut, Indonesia…

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Chocolate maker Lindt & Sprüngli launches new bar sweetened using cocoa pod from Swiss-Ghanaian start-up Koa

GHANA – Lindt & Sprüngli, a global leader in the premium chocolate sector has partnered with a Swiss-Ghanaian start-up Koa to develop a new chocolate bar sweetened using cocoa pod’s pulp. The new chocolate known as Excellence Cacao Pur is exclusively made of 82% cocoa beans and 18% cocoa pulp from Koa. The use of cocoa pulp replaces the conventional refined sugar and create new flavor experiences with the chocolate maker indicating that the bar has an initial fruity and sour taste, followed by intense cocoa notes. “2021 will be…

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Ghana chocolate export earnings rose by 16.6% in 2019 reaching US$13.4m

GHANA – Ghana, one of the world’s largest producer of cocoa earned US$13.4m from export of chocolate and other food preparation containing cocoa in 2019. According to a report by Ghana Export Promotion Authority (GEPA), this was a 16.6% increase from earnings of 2018 which stood at US$11.5m and a further rise from US$5.3m of 2017. The authority has highlighted the major market for Ghanaian chocolate during the period under review was Nigeria, accounting for 87% of the total exports worth US$11.8m. Nigeria has maintained its dominance as a key…

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Ghana boosts local consumption of cocoa-derivative products with week-long chocolate campaign

GHANA – Ghana Cocoa Board (COCOBOD) in partnership with Ghana Tourism Authority, Ghana Investment Promotion Centre, cocoa processing companies and other stakeholders in the cocoa industry have officially launched the 2021 National Chocolate week. The event which commenced on 8th – 14th February is aimed to promote the consumption of chocolate and cocoa products in one of the world’s leading cocoa producing companies. Carried out under the theme: Eat Chocolate; Stay Healthy; Grow Ghana, the event is packed with activities to encourage the consumption of chocolate confectionery, beverages, and chocolate-infused…

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AfDB, ICRAF come to the aid of Ivorian cocoa farmers battling climate change

IVORY COAST – The African Development Bank (AfDB) has partnered with World Agroforestry – ICRAF, to undertake a climate resilient cocoa farming project in two Ivorian smallholder farmers’ communities located in Soubre and Vavoua, currently grappling with declining yields caused by climate change and worsened by the COVID-19 pandemic. ICRAF is a centre of science and development excellence that harnesses the benefits of trees for people and the environment. Under the initiative the two smallholder farmer communities will receive climate-resilient and sustainable agroforestry assistance which will generate nature-based solutions that…

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Cameroonian cocoa value chain players collaborate in implementation of zero-deforestation frame work

CAMEROON – Cameroon has set up a policy framework for sustainable and zero-deforestation cocoa production led by the Ministry of Agriculture and Rural Development, in collaboration with the Ministry of Commerce, Ministry of Forestry and Wildlife, Ministry of Environment and Sustainable Development. The ‘Roadmap to Deforestation-free Cocoa’ is a partnership between the public sector, private sector, civil society, farmer organizations, research institutions, development partners and other stakeholders in the value chain. Its objective is the preservation and rehabilitation of forests that have been degraded by human activities, in particular encroachment…

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ABC Fund supports cocoa farming in Ivory Coast issuing financing ahead of 2020/2021 season

IVORY COAST – The Agri-Business Capital (ABC) Fund managed by Bamboo capital, has issued loan financing to two cocoa cooperatives in Ivory Coast to enable them provide small-holder farmers with advanced financing for production of the crop ahead of the 2020/21 cocoa season. Under the agreement, Enterprise Cooperative Kimbe (‘Ecookim’), a union of 29 cooperatives located in rural communities across 12 different provinces in Côte d’Ivoire has clinched €800,000 (US$970,000) while Socak Katana, a separate cocoa cooperative in the country with over 2,700 members received a follow-up loan from previous…

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Ghana Commodity Exchange considers trading cocoa on platform

GHANA – The Ghana Commodity Exchange (GCX) is pondering on listing light cocoa bean, which is mostly consumed by domestic processors on its trading platform in a bid to promote local consumption. According to COCOBOD the industry regulator, about a third of Ghana’s annual cocoa beans output is processed domestically with a target to boost this share to 50 percent. Reports by Business24 have indicated that the exchange does not trade cash crop contracts but plans to introduce a number of them in the coming years. “In the medium-term period,…

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Ghana COCOBOD opens first farmer-owned cocoa fermentation centre

GHANA – The Ghana Cocoa Board (COCOBOD) has opened the first farmer-owned cocoa fermentation centre in the country under its Fine-Flavour cocoa production initiative. The fermentation centre comes as a great relief to farmers and will eliminate theft of cocoa and exposure of cocoa beans to bad weather conditions during the post-harvest processes. According to reports by Africa Agribusiness, its development was jointly funded by Tachibana & Co. Ltd., Guittard Chocolate, Transroyal Ghana Limited and COCOBOD with technical support from the Cocoa Research Institute of Ghana (CRIG). During the official…

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