Revisions to Cocoa Balance Sheet Reflect Supply Deficit

The International Cocoa Organization has released revised estimates for the 2021/22 and 2022/23 cocoa years, revealing a global production deficit and consecutive supply deficits. The latest data, published in the Quarterly Bulletin of Cocoa Statistics, shows an upward revision of the production estimate for the 2022/23 cocoa balance sheet by 15,000 tons to 4.953 million tons.

Decline in Cocoa Grindings Points to Slowdown in Demand

Quarterly grindings data from major regional cocoa associations indicates a slowdown in cocoa demand during the 2022/23 season. As cocoa bean grindings are an indicator of cocoa demand, the continuous decline compared to the previous year has raised concerns. The demand side has been revised down to 5.002 million tons from 5.005 million tons in the previous bulletin.

Export and Import Details for Leading Cocoa Countries

The revised estimates also provide details on the destinations of exports and origins of imports for the leading cocoa exporting countries. This information offers insight into the global cocoa market and its dynamics.

Caution Advised in Interpretation of Data

Readers should exercise caution when interpreting the data from the Quarterly Bulletin of Cocoa Statistics, as revisions may occur in subsequent bulletins and reports from the International Cocoa Organization Secretariat.

About the International Cocoa Organization

The International Cocoa Organization (ICCO) is an inter-governmental organization established in 1973 under the auspices of the United Nations. Based in Abidjan, Côte d’Ivoire, the ICCO comprises 52 member countries, including 23 cocoa exporting countries and 29 cocoa importing countries. The organization aims to promote the economic, social, and environmental sustainability of the cocoa value chain and improve the living conditions of cocoa farmers. It serves as a center for knowledge and innovation in the cocoa economy, facilitates dialogue among member countries and stakeholders, and provides technical assistance.

Olivia

In the vast and diverse world of coffee, coffee alternatives, and tea, Olivia has found her calling. As an author and a dedicated coffee and tea aficionado, her work for Cappuccino Oracle reflects her profound love and understanding of the intricate complexities found within these beverages. Olivia’s passion for the subject serves as both a catalyst for her creativity and a connection point with her audience.

Olivia’s appreciation for coffee, coffee alternatives, and tea blossomed at an early age. She discovered that these beverages invigorated her senses and stimulated her creative spirit. From the nuanced flavors of single-origin roasts to the captivating narratives intertwined with coffee, coffee alternatives, and tea trade and culture, Olivia found an unlimited source of inspiration in her daily cup.

Her love for these beverages and her talent for storytelling eventually converged at Cappuccino Oracle. As an author, Olivia’s mission is to illuminate the intricate tapestry that makes up the world of coffee, coffee alternatives, and tea. Her articles span a diverse range of topics, encompassing everything from the unique flavors of different brews to the sociocultural history intertwined with their cultivation and consumption.

Understanding the Coffee Process

A recent study commissioned by Nestlé UK has revealed that one in four coffee drinkers are unaware of the origin of their morning brew. The poll, which surveyed 2,000 people, found that 48% of respondents did not know how long it takes for a coffee bean to become a hot cup of coffee, and 19% admitted to being unsure about the production process altogether. Shockingly, 4% of participants even believed that coffee is farmed in the UK, highlighting the lack of knowledge about the origins of this popular beverage.

Supporting Responsible Coffee Farming

Jasmine Bilham, Nescafé Brand Manager at Nestlé UK and Ireland, emphasized the importance of understanding the coffee process, stating, “Coffee is so entrenched in our daily routines that it can be easy to forget about the incredible journey it takes from countries like Brazil, Vietnam, and Mexico to coffee factories right here in the UK. Understanding the coffee process helps us to make better choices that have a positive impact on the world around us.” With 264 cups of coffee consumed in the UK every second, Bilham highlighted the opportunity for coffee drinkers to support responsible coffee farming, recyclable packaging, and renewable energy.

Factors Influencing Coffee Purchases

The study also explored the factors that influence shoppers when buying coffee. Price, coffee type, and flavor preference were found to be the most important factors, followed by roast level and aroma. In terms of sustainability, 81% of coffee drinkers agreed that coffee companies have a responsibility to be environmentally friendly and socially responsible. Additionally, 30% of respondents who enjoy trying out different coffee brands said they would choose a new brand based on its eco-friendliness.

Delivering Taste and Quality

Nestlé, as a leading food and drink company, recognizes its responsibility to meet consumer demands and prioritize sustainability efforts. Jasmine Bilham explained, “Eight decades of expertise go into sourcing our coffee beans responsibly. They’re then tested seven times before they even reach our Derbyshire factory, where our highly trained coffee testers work hard to ensure the end product consistently delivers the great taste and quality shoppers expect.”

The Love for Coffee

The study also shed light on the habits and preferences of coffee drinkers. On average, coffee lovers enjoy 657 cups of coffee per year. The warmth and comfort provided by coffee were valued by 48% of respondents, while 27% appreciated the energy boost it offers. When it comes to preparation, 50% of coffee drinkers prefer a dash of milk, 32% like it very milky, and 16% drink it black. The majority (58%) do not add sugar. Furthermore, 71% of participants stated that having at least one mug of coffee per day is important to them, and 59% believe that a “spot on” cup of coffee is essential for starting their day off right.

*Survey of 2,000 UK coffee drinkers conducted by OnePoll from 9th-14th November 2023.

Olivia

In the vast and diverse world of coffee, coffee alternatives, and tea, Olivia has found her calling. As an author and a dedicated coffee and tea aficionado, her work for Cappuccino Oracle reflects her profound love and understanding of the intricate complexities found within these beverages. Olivia’s passion for the subject serves as both a catalyst for her creativity and a connection point with her audience.

Olivia’s appreciation for coffee, coffee alternatives, and tea blossomed at an early age. She discovered that these beverages invigorated her senses and stimulated her creative spirit. From the nuanced flavors of single-origin roasts to the captivating narratives intertwined with coffee, coffee alternatives, and tea trade and culture, Olivia found an unlimited source of inspiration in her daily cup.

Her love for these beverages and her talent for storytelling eventually converged at Cappuccino Oracle. As an author, Olivia’s mission is to illuminate the intricate tapestry that makes up the world of coffee, coffee alternatives, and tea. Her articles span a diverse range of topics, encompassing everything from the unique flavors of different brews to the sociocultural history intertwined with their cultivation and consumption.

Discover the Latest Developments and Market Updates in the Bioplastics Sector

The European Bioplastics Conference (EBC) is the premier annual event for the bioplastics industry in Europe, attracting policy makers, researchers, and industry experts. This year’s conference, taking place on December 12-13 in Berlin and online, promises to be a hub of knowledge sharing, innovation, and networking.

Policy Session: Insights from European Commission and US-Canada Market Updates

The policy session at EBC 2023 will kick off with a presentation by Silvia Maltagliati, Policy Officer in the Circular Economy & Biobased Systems Unit at the European Commission’s Directorate-General for Research and Innovation. She will provide valuable insights into the bioplastics policy landscape in Europe. Rhodes Yepsen, Executive Director at BPI, will broaden the discussion by highlighting the latest trends in policy and market updates in the US and Canada.

Exploring Sustainability and Innovation in Bioplastics

The conference program features a wide range of topics, including sustainable sourcing, circular economy, and innovation in the bioplastics industry. Experts and researchers from various organizations will share their insights and research findings.

Marieke Brouwer, Researcher Sustainable Packaging & Recycling at Wageningen University & Research, will present on the sustainability assessment of different types of coffee capsules. This presentation will shed light on the environmental impact of coffee packaging and explore sustainable alternatives.

Burkhard Ohs, Manager Long-Term Development at Neste, and Sophie Herrmann, Partner and Managing Director at Systemiq Germany, will discuss the role of the chemical industry as a carbon steward. Their insights will provide valuable perspectives on how the industry can contribute to a more sustainable future.

Transforming Packaging into Sustainable Solutions

Yuki Kabe, Technical Advocacy & LCA specialist at Braskem Netherlands B.V., will share insights into their commitment to obtaining responsibly-sourced biobased plastics throughout the supply chain. This presentation will highlight the importance of collaboration and responsible sourcing in achieving sustainability goals.

Dr. Heidi Peltola, Head of Research and Development at Sulapac Ltd, and Andrea Vittadello, Sustainability Project Manager at Merieux NutriScience, will focus on transforming packaging into sustainable solutions for the cosmetics and food industries. Their discussion will explore the potential of packaging to meet industry standards and contribute to a more sustainable future.

Join the Conversation and Contribute to the EU Green Deal Goals

The European Bioplastics Conference 2023 is a must-attend event for anyone interested in the bioplastics industry. By attending, you’ll gain access to the latest market data report and have the opportunity to engage in discussions on advancing the industry towards achieving the EU Green Deal goals.

For more information on the conference program and how to register, visit www.european-bioplastics.org/events/ebc/programme/

Olivia

In the vast and diverse world of coffee, coffee alternatives, and tea, Olivia has found her calling. As an author and a dedicated coffee and tea aficionado, her work for Cappuccino Oracle reflects her profound love and understanding of the intricate complexities found within these beverages. Olivia’s passion for the subject serves as both a catalyst for her creativity and a connection point with her audience.

Olivia’s appreciation for coffee, coffee alternatives, and tea blossomed at an early age. She discovered that these beverages invigorated her senses and stimulated her creative spirit. From the nuanced flavors of single-origin roasts to the captivating narratives intertwined with coffee, coffee alternatives, and tea trade and culture, Olivia found an unlimited source of inspiration in her daily cup.

Her love for these beverages and her talent for storytelling eventually converged at Cappuccino Oracle. As an author, Olivia’s mission is to illuminate the intricate tapestry that makes up the world of coffee, coffee alternatives, and tea. Her articles span a diverse range of topics, encompassing everything from the unique flavors of different brews to the sociocultural history intertwined with their cultivation and consumption.