04-05 Mar, 2015 - Singapore, SINGAPORE
GoodWood Park Hotel Singapore
GoodWood Park Hotel Singapore
There is a shift in cocoa production and processing, progressively focusing more and more on the Asian region.
In terms of consumption, the region still consumes very little chocolate, but the appetite is increasingly growing and as the region has huge potential - producers like Cargill and Olam have announced plans to produce and process cocoa in the region, primarily in Indonesia - world's third largest cocoa grower.
While Cargill is building a $100 million cocoa facility in Gresik, Indonesia, Olam International is investing $61 million in a cocoa-processing plant in the country.
Vietnam is another country in the region that is boosting its cocoa production. Cargill has already invested in cocoa production in the country way back in 2004. The company is helping coffee farmers to grow cocoa as a second crop, as the latter is more suitable for the soil. Cargill has partnered with the Dutch government and Mars Inc. in Vietnam for cocoa production.
Industry experts predict cocoa prices to soar through 2014 due to a continuing deficit in global cocoa supply. International Cocoa Organization expects supplies to fall short of demand in the 2014-15 season beginning Oct. 1.
More on cocoa production and processing will be discussed at the upcoming Cocoa Revolution (Emerging Markets, Processing Trends, Yield & Quality Improvement) summit on 04-05 March, 2015 in Singapore.
Contact Ms. Huiyan at huiyan@cmtsp.com.sg or call +65 6346 9113 for more details.
