Is Tesla about to start making its own candy? Plus four more stories from the cocoa world to help you sort through the noise
Is Tesla about to become a confectionery giant? Cocoa traders face a $1bn loss; Barry Callebaut takes another hit - and more turmoil for the EUDR.
Cocoa farmers union predicts ‘humanitarian catastrophe’ under new EU deforestation laws
ANAPROCI, the largest cocoa Farmers Union in Côte d'Ivoire, representing 600,000 cocoa and coffee producers, has rejected the European Union Deforestation Regulation (EUDR), calling it a potential 'humanitarian catastrophe.'
ALERT: Is the EUDR about to be postponed?
Over the past seven days, there has been much chatter about whether the European Commission will propose postponing the EU Deforestation Regulation (EUDR).
Exclusive - EC response to 10 questions on the EUDR
While the cocoa sector has broadly welcomed the EUDR legislation, we can report serious misgivings about its implementation, leading to calls for it to be delayed until further guidelines from the European Commission are available.
Summary of Latest Cocoa Prices - June 2024
Recently, the price for a metric ton of cocoa in the New York market fell to $7,878.8, down from a high of $12,218 earlier in the year. Similarly, London cocoa prices have seen fluctuations, closing at £8,210 per metric ton on June 20, 2024.
