NEW YORK, Feb 8- Itochu Corp, one of Japan's biggest trading companies, said on Monday it has agreed to buy a stake in a new joint venture with privately-owned cocoa trader and processor Transmar Group, marking its first foray into the chocolate market. Under the terms of the deal, the companies will form a joint venture called Transmar Group Ltd, which will be based in...» Read More
NEW YORK/ JINOTEGA, NICARAGUA, Jan. 18- Brimming with shade trees and bounded by the Tuma river, the lower climes of Roger Castellon's farm in Nicaragua's mountainous Jinotega department were long ideal for growing coffee. But with temperatures on the rise, the veteran coffee farmer is shifting his lower-lying land to a crop that, although new for him, enjoys a rich...
NEW YORK, Dec 31- Some of the smallest niche agricultural commodities were the biggest winners this year as weather and disease raised concerns about tightening supplies, spurring a buying spree as an exodus of institutional cash punished oil, metals and grains markets. Cocoa, cotton, sugar and frozen concentrated orange juice on ICE Futures U.S. were on track to...
*Cocoa part of diversification away from oil. LAGOS, Dec 7- Nigeria, already hit by low oil prices, faces a threat to its cocoa sector with industry officials saying its few remaining grinders could close. Taiwo Ayoade, general manager at Plantation Industries Ltd in Ondo, Nigeria's largest cocoa-producing state, said his 25,000 tonnes processor had scaled down...
Commodities have been crashing this year but there's one in particular that has hit the sweet spot.
*London cocoa futures at 1- month high. *Vietnam robusta harvest gets under way. NEW YORK/ LONDON, Oct 29- ICE arabica coffee futures rose further above a one-month low on Thursday, as a weak U.S. dollar provided support in a lackluster market, while London cocoa rose for a fifth straight session to a one-month high on technical strength.
*Heavy spreading buoys New York cocoa volume. NEW YORK/ LONDON, Oct 28- ICE raw sugar futures soared to an eight-month high on Wednesday, on chart-based buying and the firming currency in top grower Brazil, while the spot robusta coffee discount expanded to the biggest in five months. Cocoa futures extended gains above key moving averages to one-month highs, with...
ABIDJAN, Oct 5- There will be a global cocoa deficit of around 96,000 tonnes in the 2015/ 16 season despite increased production, International Cocoa Organization Executive Director Jean-Marc Anga said on Monday. Speaking to Reuters on the sidelines of an event in Ivory Coast's commercial capital Abidjan, he predicted that global cocoa output would increase...
*Brazil cane crush broadly within expectations. NEW YORK/ LONDON, Aug 21- Arabica coffee slid 5 percent on Friday, extending losses on technical sell signals and pressure from larger commodity markets, while raw sugar neared a seven-year low after ideal weather helped speed up cane crushing in top grower Brazil. Cocoa also fell along with the 19- commodity...
Andreas Jacobs, chairman of Barry Callebaut, tells CNBC's Christine Tan how he is continuing the legacy of his father, German-born entrepreneur Klaus Jacobs.
China's chocolate sales will grow to $4.3 billion by 2019, up nearly 60 percent from 2014, driven by a growing urban population, a Hershey official said.
Dennis Melka, CEO of United Cacao Limited, discusses the company's ambitions to become the "largest cacao supplier" in the world.
Prices of chocolate have soared nearly 20 percent over the last 18 months. CNBC's Sara Eisen explains why some say talks of a potential cocoa shortage are exaggerated.
Mohamed Elsarky, CEO of Godiva, discusses the impact of Ebola on cocoa producing nations and the factors behind cocoa's recent price increase.
Tedd George, head of agriculture research at Ecobank, says the spread of Ebola across West Africa could hit production and threaten a large amount of the world's cocoa production.
The World Cocoa Foundation is set to announce a fundraising initiative to help combat Ebola in West Africa.
Erkut Ozer, CEO of Global Trading Enterprises, says China's growing appetite for chocolate is pushing the price of cocoa higher.
"No one wants to talk about it because they don't want to start a panic," one expert tells CNBC.
After seeing a rise of nearly 20 percent year to date, cocoa prices may see a taper soon, says Avtar Sandu, Senior Manager, Commodities at Phillip Futures.
Wayne Gordon, Executive Director, Commodities of UBS Wealth Management, explains why consumers won't be put off by higher cocoa prices and discusses the surge in chocolate demand in emerging markets.
Cocoa prices have risen almost 20 percent year to date. CNBC's Adam Bakhtiar visits a factory in Singapore to find out whether higher prices have dampened chocolate demand in Asia.