Olam Sweetens Cocoa Imports as Cartel Carries Trump-Baiting Risks

Ags - Softs 129 Consumer Staples 734 U.S. 5197

The governments of Ghana and Ivory Coast are attempting to create a price-fixing cartel for cocoa. Both countries run the risk of losing reduced tariffs under the U.S. Generalized System of Preferences given the Trump administration’s proactive use of the measure recently regarding India. Ghana and Ivory Coast accounted for 53.2% of U.S. imports in 2018. U.S. inbound seaborne shipments have been in decline until recently with an 18.3% year over year rise in imports in April and May combined. That expansion has been led by Sucres et Denrées (SucDen) and Olam International with 40.3% and 2...

Copyright © 2021 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.