American Halloween Cacao
American Halloween Cacao The children will put on all kinds of fancy clothes and ring the neighbor’s doorbell to ask for sweets.
However, as the number of people infected with the new coronavirus continues to rise in the United States, the US Centers for Disease Control and Prevention (CDC) issued a
Halloween epidemic prevention policy on October 14 to advise people to avoid close contact celebrations, including traditional forms of “no sugar. “Troubleshooting” and indoor dress-up parties.
It is not only the children in the United States who are disappointed, but also the cocoa producers in other countries. The demand for chocolate has plummeted, and the sales of confectionery manufacturers have also fallen sharply.
Halloween During Corona
As a result, they can no longer continue to pay the promised premium to cocoa farmers.
The so-called premium comes from Fairtrade’s support policy for cocoa farmers in Africa. In West Africa, Cocoa beans grown in Côte d’Ivoire and Ghana account for 70% of the total global supply.
However, the profitable commerce has kept many cocoa farmers living in poverty. In 2019, the Fair Trade Organization issued a requirement for an additional “Living Income Differential” subsidy per ton of cocoa beans (Living Income Differential):
a premium of $400 per metric ton of cocoa beans was charged and the price paid to cocoa growers increased by 20 %many. The policy will be implemented from October 2020 to improve the income of farmers and the sustainable development of cocoa bean cultivation.
However, as the epidemic forced people to stay home, sales of Hershey, the largest chocolate manufacturer in North America, have been affected by a 10% drop.
American Halloween Cacao
American Halloween Cacao 200,000 tons of cocoa this season, the highest level in four years, while Citigroup believes there will be a surplus of 300,000 tons of cocoa.
Gerry Manley, head of cocoa at Olam International Ltd. in Singapore, the world’s third-largest cocoa
processor, said last month that the epidemic has had a great negative impact on cocoa
processing, causing supply to exceed demand.
Côte d’Ivoire and Ghana usually sell about 80% of cocoa before the start of the harvest season and pay growers 60% of the international market price.
As the two countries negotiated with processors and chocolate manufacturers
on the income gap for farmers, this quarter’s forward sales took longer than usual.
Jonathan Parkman, deputy director of agriculture at Marex Spectron Group,
a London-based futures and options brokerage firm, believes that the problem of
income gaps will break out in February and March 2021, and may even need to be restructured.
He said that it will be difficult to convince buyers to continue to
pay the cocoa farmers’ income difference in the 2021-22 quarter.
Data for the week of October 12 showed that the volume of cocoa processing in Europe
had fallen by 4.7% in the third quarter, the lowest in four years.
In North America, the grinding volume of pulses fell by 4%, the
lowest level since 2008, while the processing volume in Asia fell by 10%.
According to data from Commodities Risk Analysis, a cocoa market analysis firm
the price of cocoa butter has fallen by more than 10% since the beginning of April when the epidemic began.
the two-term President Vatra is facing resistance from challengers. There have been many violent incidents and demonstrations on the streets.
The demand for cocoa has plummeted, and the price of cocoa butter has fallen. In an interview with Bloomberg, Judy Ganes
president of J Ganes Consulting, said, “I think the futures market has already encountered trouble.”
