The Asian Cocoa Paper
September 2024
The Asian Cocoa Paper
Prepared by the Cocoa Association of Asia (CAA), Sustainability Committee
The Region Asia Pacific is increasingly craving for cocoa and chocolate products. However, there is not enough Asian cocoa beans to cater for such demand, making the Asian cocoa industry dependent on beans imported from West Africa and Latin America. The Cocoa Industry needs more Asian Cocoa. The CAA has created a platform for uncommon collaboration between industry players and NGOs focusing on three priorities: Increase cocoa productivity and farmer income, share Good Agricultural Practices, and attract young farmers to grow cocoa.
EUDR RELATED INFORMATION
17 November 2021
19 November 2022
31 May 2023
9 June 2023
7 September 2023
8 December 2023
13 December 2023
18 December 2023
10 January 2024
29 January 2024
14 November 2024
The European Parliament has approved a one-year postponement for EUDR compliance, extending the deadline for large companies to December 30, 2025. Micro- and small enterprises, however, now have until June 30, 2026, to align with the regulation’s requirements. These extensions acknowledge the significant adjustments required across supply chains to guarantee regulatory compliance, particularly for forest-risk commodities like cocoa.
Additionally, Parliament has put forth the implementation of a new country benchmarking system. In addition to the existing “low,” “standard,” and “high” risk categories, a “no risk” category has been proposed for countries with stable or expanding forest areas, which will face fewer compliance requirements. The Commission aims to finalize this country benchmarking system by June 30, 2025.
21 November 2024
ICE Futures London Cocoa Futures Contract – Rule Changes in Response to the European Parliament Vote to Amend the European Deforestation Legislation
CONTRACT RULES: ICE FUTURES LONDON COCOA FUTURES CONTRACT