July 7, 2010 / 1:06 PM / 8 years ago

FACTBOX-Who's who in the cocoa market

July 7 (Reuters) - A group of mostly small to mid-sized European cocoa industry participants have sent a letter to the NYSE Liffe exchange NYX.N complaining about the extent of speculation on the London cocoa market and urging tighter regulation. [ID:nSGE66404T] [ID:nLDE6641UX]

The following details some of the major groups in the world cocoa market. None of them signed the letter to Liffe.

PRODUCERS

West Africa produces around two-thirds of the world’s cocoa, mostly from small-holder farmers, with the highest concentration of production in Ivory Coast and Ghana. The Ivory Coast’s Coffee and Cocoa Management Committee issues guideline prices and governs the sector in the world’s largest producer. The Ghana Cocoa Board oversees the production, processing and marketing of cocoa in the world’s no. 2 producer.

EUROPEAN COCOA ASSOCIATION

A trade association that represents the major companies involved in cocoa bean trade and processing, warehousing and related logistical activities in Europe. Western Europe’s cocoa industry grinds close to a third of world cocoa production into products including butter, liquor and powder.

ARMAJARO

London-based global commodities and financial services group Armajaro’s sourcing operation is one of Europe’s top three cocoa traders by volumes. The asset management part of business includes five hedge funds: the Armajaro Commodities Fund, CC+ Fund, CZAR+, Armajaro STS Commodities Fund and the Armajaro Emerging Markets Fund.

CARGILL

U.S. company Cargill [CARG.UL] is one of the world’s largest traders of agricultural commodities. The company’s European cocoa operations, Gerkens Cacao, are based in the Netherlands and its activities include sourcing and processing cocoa beans. Black River Asset Management LLC, an independently managed subsidiary of Cargill, manages third-party capital via products including hedge funds.

DELFI COCOA A division of cocoa ingredient manufacturer Petra Foods Limited PEFO.SI, which supplies cocoa ingredients to the chocolate industry in the Asia Pacific region.

OLAM INTERNATIONAL (OLAM.SI) Singapore-based global supply chain manager and processor of agricultural products and food ingredients. Olam is involved in all stages of the cocoa supply chain, which includes sourcing, processing, exporting, shipping and logistics, importing and distribution. The company also has a financial services business which includes a commodity fund.

TOUTON French company trading in agricultural commodities.

ADM (ADM.N) U.S.-based Archer Daniels Midland Co is one of the world’s largest producers of food ingredients. It grinds around 15 percent of the world’s cocoa crop, making chocolates, cocoa liquor, cocoa butter and powder for chocolate manufacturers.

BARRY CALLEBAUT (BARN.S)

Switzerland-based Barry Callebaut, the world’s largest chocolate maker, produces chocolate for groups including Nestle NESN.VX and Hershey (HSY.N).

KRAFT KFT.N

U.S.-based Kraft Foods KFT.N recently acquired UK chocolate-maker Cadbury, making it the world’s largest confectionary group.

NESTLE NESN.VX

The world’s biggest food group, Swiss company Nestle, makes chocolate products including Kit Kat and Aero bars.

MARS

Privately owned Mars is one of the largest food manufacturers in the world with products including Mars bar, Snickers and M&Ms.

HERSHEY (HSY.N)

U.S. company Hershey, known for Hershey’s kisses and chocolate syrup, is the largest producer of chocolate in North America. (Compiled by Sarah McFarlane; Editing by Sue Thomas)

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