Global tea production and consumption rises, according to FAO

WORLD - Global tea production and consumption will continue to increase over the next decade driven by rising demand in developing and emerging countries especially India and China which have seen accelerated growth, according to a May report by FAO. The report suggests the upward trend is attributable to a combination of higher incomes and…

Starbucks raises price of brewed coffee in most US stores

USA - Starbucks Corp has raised prices for brewed coffee by an average of 1 to 2% in the past year and according to the company, it was in line with industry practices, reported ET Retail. Some of the products affected included a regular drip coffee whose price rose by 10 cents to 20 cents…

Barry Callebaut partners with Ghana and Ivory Coast for sustainable cocoa production

GHANA - Barry Callebaut, one of the world’s largest cocoa producers and grinders has signed a letter of intent with Ghana and Ivory Coast to clear and replant trees infected with swollen-shoot virus disease in an initiative to ensure sustainable cocoa farming. The initiative, in collaboration with Ghana Cocoa Board (COCOBOD) and the Coffee Caco…

Arla Foods signs strategic partnership with Starbucks

UK – Arla Foods, a global dairy company and co-operative, has signed a strategic partnership with Starbucks, a successful business partnership that allows Arla Foods to manufacture, distribute and market Starbucks premium milk-based ready-to-drink (RTD) coffee beverages for the EMEA region (Europe, Middle East and Africa.) According to the company, the two companies have signed…

Tanzania’s coffee production to increase 15% on ‘favorable weather’

TANZANIA - Tanzania’s coffee production will increase 15% from 1.15 million bags to 1.30 million bags in the year 2018/19 as a result of biennial bearing cycle and favorable weather conditions as reported by Tanzania Meteorological Authority (TMA). The USDA’s GAIN report indicates that ending stocks for financial year (FY) 2018/19 are forecast up by…

Ghana to establish a Cashew Development Board by June to regulate the sector

GHANA - Ghana is planning to establish the Cashew Development Board by the end of June this year with a mandate to regulate the cashew industry, reports GNA. Making the announcement, Ghana’s president Nana Addo Dankwa Akufo-Addo said his government recognised the contributions of farmers in the region towards the achievement of national food security.…

Keurig Green Mountain invests in South Carolina with new Spartanburg County operations

USA - Keurig Green Mountain, Inc., a leader in specialty coffee and innovative single-serve brewing systems, has announced plans to construct a new, state-of-the-art roasting and packaging facility in Spartanburg County, South Carolina. According to the company, the investment is projected to bring US$350 million of capital investment and create 500 new jobs. Located in…

Brazil coffee volumes fall as Africa’s production rise 3.2% to fill gap

UK - The world’s leading coffee producer Brazil’s total exports declined 10.5% to 2.52 million tonnes in March and this is offset by increasing coffee production in Africa and other countries, according to the International Coffee Organisation. Brazil is also said to be declining in coffee output in crop year 2017/18 estimated at 51 million…

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…