MILAN — Coffee futures markets continued to be highly volatile during the first ten days of November. After Thursday’s rally, both exchanges experienced an equally sharp turn into negative territory on Friday 8 November. In New York, the contract for December delivery of the Ice Arabica lost 705 points (-2.7%), ending the week at 253.35 cents.
In London, the Robusta coffee futures contract for January delivery fell $110 (-2.5%) to settle at $4,376.
Helping to push both markets lower was data from the new Ico report, which shows world coffee exports for coffee year 2023/24 at an all-time high of 137.273 million bags and highlights an unprecedented increase in global green coffee shipments.
Meanwhile, Brazil’s foreign trade secretariat (Secex) released preliminary data on coffee exports in all forms during October, which amounted to 4.799 million bags, up 12% from the same month last year.
Between January and October, 39.436 million bags were exported, a 37.7 per cent increase compared to the first 10 months of 2023. Cecafé will publish full data on Brazilian exports this week.
According to broker Escritório Carvalhaes, Brazilian producers will slow down their coffee sales in the coming months as they wait to see the size of the new crop, the first reliable estimates of which will only be available between February and March.
Storm Yinxing continued to weaken this morning and is expected to degrade into a low-pressure area as it nears central Vietnam, while Typhoon Toraji has intensified and is projected to enter the East Sea, report local media.
It is still too early to anticipate the impact on the coffee growing areas, although November is traditionally a drier month suitable for harvest and cherry drying conditions, and rain may interrupt the harvest activities that are underway.
LONDON, United Kingdom – The International Coffee Organization (ICO) has released its latest Coffee Development Report, “Beyond Coffee: Towards a Circular Coffee Economy”, an in-depth exploration of the circular economy’s potential within the coffee sector. Co-created in partnership with International Trade Centre (ITC), Center for Circular Economy in Coffee (C4CEC), Lavazza Foundation, and Politecnico di Torino, with contributions from University College London, this flagship report combines new data, case studies, and policy recommendations aimed at integrating circular economy practices across the coffee value chain.
This unique participatory process incorporates the perspectives of the members of the global multi-stakeholder working group of the ITC Coffee Guide Network: 62 experts in 36 countries throughout the global coffee sector, including small enterprises and institutions from coffee-growing regions.
The report reveals that coffee processing generates over 40 million tonnes of waste, creating challenges for sustainable management within the coffee value chain.
However, this renewable biological material – including pulp, parchment, husk, and spent grounds – contains valuable compounds with cross-industry applications in health, packaging, and renewable energy. With 72% of by-products produced in coffee-growing regions, significant opportunities arise to transform this waste into value-added products for local use, regenerative agriculture, or export. Promising uses include cosmetics, mushroom cultivation, biochar, and nutrient-rich food products.
A circular economy is built on three main principles: eliminating waste and pollution, circulating products and materials at their highest value, and regenerating nature. By integrating these principles, the coffee industry can boost resource efficiency, improve incomes, and support climate action alongside healthier ecosystems.
The report provides policy recommendations for all coffee sector stakeholders, including engaging in pre-competitive research, collaborating with adjacent industries, standardizing regulations, fostering markets for innovative circular products, and driving investment, especially for MSMEs in coffee-growing countries. Small businesses can obtain new income and reduce waste by introducing circular economy practices at all stages in the global coffee industry.
The C4CEC, a pre-competitive platform promoting circular economy innovations, is committed to implementing these recommendations. As a global hub for best practices, practical information, and research, the C4CEC invites coffee sector organizations to join and further these solutions with the support of strategic partners such as the ICO, other development partners and coffee stakeholders.
Join the upcoming launch webinar, “Sector Recommendations for Circular Economy in Coffee: Insights from the Coffee Development Report 2022-23”, on Friday, 8 November, from 2 p.m. to 3:30 p.m. GMT, to explore actionable recommendations from coffee sector leaders.
ICO Executive Director Vanúsia Nogueira said: “We aim to challenge the outdated perception that coffee producers gain value solely from the coffee bean itself. I firmly believe that everyone in the coffee sector – coffee farmers, workers, industry stakeholders, and consumers – can play a crucial role in driving the shift toward a more sustainable and resilient industry.
By repurposing “waste” into new products and alternative energy sources, we can unlock significant income possibilities and job opportunities while simultaneously lowering production costs. The International Coffee Organization is proud to be a founding member of the C4CEC. We encourage all coffee stakeholders to join this platform and work towards a resilient, inclusive, and sustainable coffee sector.”
ITC Executive Director Pamela Coke-Hamilton said: “Small businesses in coffee-producing countries have the most to benefit from the circular economy model as it promotes bottom-up innovation and knowledge sharing, as well as sustainable and inclusive value chains, market access, and responsible business. We invite all coffee stakeholders to join this platform to advance circular economy.”
TURIN, Italy – Continuing in the vein of the last two editions of the Calendar, which focused on collaboration and inclusion, for 2025 Lavazza has chosen the ‘blend’ as the key concept driving the aesthetic approach behind the shots in the new Calendar, with creative direction by advertising agency Armando Testa. In the words of Francesca Lavazza, Lavazza Group Board Member: “With this project we want on one hand to emphasise the importance of the art of blending as a source of inspiration since 1895, but also the importance of the people who have contributed to the Group’s growth and success and are in the process of building its future. Let’s Blend – 130 years forward is a choral calendar that takes us into 2025.”
To celebrate the anniversary, Lavazza chooses to talk about the present and, above all, looks to the future by commissioning new generation talent Omar Victor Diop to produce the images in the Calendar.
Diop is an extraordinarily elegant French-Senegalese artist who creates a single choral photograph in which joyful chromaticism expressing the visual vibrancy of his home culture is combined with skilful composition that references the great tradition of Renaissance painting, giving life to four tableaux vivants that celebrate the idea of the encounter and blending, adapting it according to two key concepts.
The leitmotif linking the four seasons of the Lavazza Calendar, dominated by shades of light blue, pink, green and ochre, is the counter that symbolises the place where multiple cultures and experiences come together through a shared love of coffee
The photographs, which compose a symphony of the four seasons, are populated by 36 protagonists invited from the world of Lavazza to embody certain key moments in the Group’s history.
Every triptych features a ‘talent’, a prominent personality linked to the world of Lavazza, surrounded by the protagonists chosen for the story that will lead to the celebration of a hundred and thirty years since the Company was founded.
Francesca Lavazza comments: “With the Let’s Blend project we wanted to symbolically create a great reunion, in which everyone who shares the same value finds visibility in a collective fresco made up of 36 people.
The photographer, ambassadors, chefs, baristas and trainers, with the Group’s collaborators and long-standing partners… a blend with different roots, origins and roles, but all sharing Lavazza’s values and with the task of propelling them into the future.”
So, it’s in front of the endless counter of an ideal bar that a new concept of extended community is created, based on shared values, aimed at fostering the richness of difference.
Just like a blend, which in coffee brings together a mixture of original characteristics and whose result is always more than the sum of its parts, so the union of people who share the history of Lavazza – from the baristas who devote care and attention to every aspect of preparing and serving their coffee to the internationally renowned designers who develop tools and environments – contributes to defining the magic and uniqueness of a brand like Lavazza. It’s a tribute to an idea of warm humanity that weaves relationships between equals and believes in know-how and contamination, a humanity that welcomes the other and broadens its horizons, recognising the extraordinary value of every person.
The images for the twelve months of the Calendar form a narrative that unfolds as if in a single long take and tells multiple different micro-stories, the “molecules” that make up a larger collective story.
Jannik Sinner, Massimiliano Caiazzo, Whoopi Goldberg, Tullio Solenghi, Big Mama, Omar Victor Diop, Sara Gama and Omar Hassan appear alongside Ambassadors Daniela Fatarella General Manager Save the Children Italy, designer Cino Zucchi and Chefs Norbert Niederkofler, Federico Zanasi and Chiara Pavan
These famous names are featured with Lavazza people, with professionals including coffee specialists, baristas, trainers and even Luigi, the friendly robot in the Pleasure Makes us Human Global Campaign, who represents the more futuristic side but is also rich in Brand sentiments.
The triptychs, which are compositions of carefully selected objects with a precise meaning, like clues in an intriguing treasure hunt, expound the concepts of Blending Times, which brings together personalities of different generations, Blending Roots, in which each subject showcases their different origin, Blending Cultures, a mixology of different traditions and cultures, and lastly Blending Minds, where complementary attitudes, skills and professions are mixed together.
They are people who work in different fields and express themselves in art, sport, culture, business, gastronomy and innovation, all areas where Lavazza has an active role to play.
Blending is therefore a “kind of foundational word in the Lavazza dictionary”, says Michele Mariani, executive creative director at Armando Testa Group, who also explains that “we thought it was important and interesting to underscore this concept
Talking about blending today highlights a major value at a time in which the world seems a little more problematic, a little more arid and often unmindful of differences. So, the invitation to collaborate, share and coexist is now more than a desire, it’s a necessity”.
Following in the footsteps of the 2024 Calendar – More than Us – with images by African photographers Thandiwe Muriu, Daniel Obasi and Aart Verrips, the new Calendar by Omar Victor Diop showcases Africa’s centrality as a continent of innovation, no longer ‘emerging’ but now a group of countries and cultures in great ferment.
A symbolic place of the utmost importance for the Group. “Africa is a place of identity,” says Francesca Lavazza, “because it’s the original home of the coffee bean (the Kafa region of thiopia) but also a continent of harmony, bursting with energy, experimentation and belief in the future.
All values in line with Lavazza’s DNA. With its natural wealth, Africa is also the stage for a number of sustainable development projects by the Lavazza Foundation, through which Lavazza Group aims to turn coffee into a huge opportunity for producer countries: a high-quality product for prosperous communities that respect and protect the environment in the framework of long-term sustainable development”.
With the 2025 Calendar, Lavazza is continuing its advocacy of responsible business practices and universal values. An international Group with over 5,500 people, Lavazza puts the values of sustainability and inclusion at the centre of its growth, moving forward with the mission it embraced 130 years ago, in which people and the environment are now the true protagonists. Connected, to create something precious together.
KAMPALA, Uganda – Parliament of Uganda has passed the National Coffee (Amendment) Bill, 2024 integrating the Uganda Coffee Development Authority (UCDA) into the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF). This move is part of the government’s Rationalisation of Agencies and Public Expenditure (RAPEX) policy aimed at streamlining public spending and reducing redundant administrative structures.
Despite fierce opposition and extensive debates in recent months, the Bill was approved during the plenary sitting on Wednesday, 06 November 2024.
The passage of the Bill was marked by delays and objections from some Opposition legislators, with members of the National Unity Platform (NUP) staging a walkout in protest earlier before the item even came on the Floor.
During the consideration of the Bill, Hon. Nathan Nandala-Mafabi (FDC, Budadiri County West) argued that dissolving UCDA would disrupt a sector critical to Uganda’s economy proposing a three-year delay to ensure a smooth transition.
“I want to make an amendment that the commencement of this Act shall be after three years. The justification is to give it time for the process of dissolution,” Nandala-Mafabi stated.
Hon. Moses Okot (FDC, Kioga County) also expressed caution suggesting a grace period to allow the ministry to be fully prepared to manage coffee sector responsibilities effectively.
“The coffee sector should be dealt with a lot of caution. I am associating myself with the decision that if this House is to decide to rationalise, coffee should be given a grace period to grow at least two or three years until the ministry is up to date to move on,” he said.
However, this proposal was rejected.
The Attorney General, Hon. Kiryowa Kiwanuka, defended the integration emphasising that merging UCDA with MAAIF would improve coordination, reduce duplication and enhance efficiency.
He insisted that, once the Bill is gazetted, the transfer of UCDA’s responsibilities should proceed immediately, aligning with the Cabinet’s RAPEX policy approved in 2021.
The National Coffee (Amendment) Bill, 2024, was first read on 24 September 2024 and subsequently, referred to the Committee on Agriculture, Animal Industry and Fisheries for scrutiny.
The Minister of State for Animal Industry, Hon. Bright Rwamirama, argued during the Second Reading in October that restructuring UCDA as a department within MAAIF would streamline operations, cut administrative costs and eliminate, ‘bloated structures and functional ambiguities’.
Hon. Linda Auma, Chairperson of the Committee on Agriculture, Animal Industry and Fisheries supported the merger, acknowledging the challenges but deeming the transition necessary for the coffee sector’s future.
Her committee report aligned with the government’s merger goal but recommended a three-year transitional period to prevent disruptions in the coffee value chain.
In a minority report, Hon. Abed Bwanika (NUP, Kimaanya-Kabonera Division) cautioned against rapid implementation, proposing a five-year grace period to allow MAAIF to establish the necessary systems.
He argued that a rushed merger could jeopardise Uganda’s coffee export accreditation, essential for international competitiveness and cited failures in neighbouring Kenya and Ethiopia as cautionary examples.
Parliament had initially passed the Bill, but it was returned by President Yoweri Museveni who raised concerns from coffee-growing regions like Bugisu and Buganda, whose MPs opposed the integration.
Speaker Anita Among referred the Bill back to the Agriculture Committee for further consultations with the MPs encouraging lawmakers to balance government efficiency with farmers’ livelihoods, many of whom rely on UCDA’s support.
Following these consultations, the Cabinet initially endorsed a three-year transition for the merger but later backtracked after a caucus meeting involving key lawmakers.
The agriculture minister, Hon. Frank Tumwebaze, reassured Parliament that existing permits, licenses and certifications issued by UCDA would remain valid under the new structure, ensuring continuity for coffee producers and exporters.
Addressing staff concerns, Tumwebaze said that UCDA employees might be absorbed into the public service.
During his remarks after the passing of the Bill, he emphasised MAAIF’s commitment to enhancing the coffee value chain, assuring MPs that the ministry would maintain UCDA’s work in producing high-quality coffee varieties.
“With your support, we shall ensure that our laboratories remain accredited and our research continues to raise Uganda’s coffee profile globally,” he added.
In a symbolic show of consensus in October, Speaker Among subjected the Bill to a Division Lobby (headcount vote), where 159 MPs supported the Bill, while 77 opposed it.
The UCDA established in 1991 under the Uganda Coffee Development Authority Act regulated Uganda’s coffee value chain, supported research and maximised earnings for stakeholders.
Coffee, a major export for Uganda, generated substantial national revenue, and UCDA’s role was central to this success.
MILAN – The Specialty Coffee Association is delighted to release updated Rules & Regulations for the 2025 World Coffee Roasting Championship. The updated rules and scoresheets are the first of the 2025 World Coffee Championships (WCC) season, and will be used at the world finals at the Specialty Coffee Expo in Houston, TX, USA, from April 25-27.
This round of updates primarily clarifies and formalizes existing practices. Key changes include revised competitor registration procedures and updates to the selection of green coffee provided. Formalized processes have been introduced for measuring coffee color, using personal notes and hearing protection, and grinding coffee.
Competitors are now required to specify the ratio and quantities used in their blend, with penalties introduced for late submissions or incomplete information to emphasize its importance in coffee evaluation.
The evaluation process has been expanded to allow more than five descriptors for certain attributes, with adjustments made to how some examples are categorized.
Additionally, the appeals and complaints process at both Competition Body and World-level events has been streamlined, now requiring submissions via an online form.
Updates to the rules & regulations are overseen by the WCC Competitions Strategic Committee. The rules documents, summaries of changes, scoresheets, and new appeals form are now available at the new website for the World Coffee Championships: wcc.coffee/rules-regulations
World Coffee Championships this season:
Houston World Coffee Championships
April 25-27 at the Specialty Coffee Expo in Houston, TX, USA
Featuring the World Coffee Roasting Championship
Jakarta World Coffee Championships
May 15-17 at World of Coffee in Jakarta, Indonesia
Featuring the World Brewers Cup
Geneva World Coffee Championships
June 26-28 at World of Coffee in Geneva, Switzerland
Featuring the World Latte Art, World Coffee in Good Spirits, World Cup Tasters, and Cezve/Ibrik Championships
ANTWERP, Belgium – A quick coffee before class: a regular habit for many students and lecturers: on University of Antwerp’s (UAntwerp) Groenenborger and Middelheim campuses, the ritual is no longer accompanied by heaps of disposable cups. The system with reusable cups appears to be successful. For several years now, the University of Antwerp has been committed to reusable materials in all komida student restaurants.
Following a number of trial periods, the university went into business with the German company Vytal. ‘In our restaurants, we’re now working with two reusable containers,’ komida coordinator Filip Verplancke explains. ‘Salads, soup, hot take-away meals: we’re no longer using disposable materials.’
No extra work
The system functions without a deposit. If you take or return a container, you register this in the Vytal app. ‘The system is free for users, with the university paying a small service fee. If you borrow [FV1] a container, you have fourteen days to return it. If you fail to do so, the app will charge the user ten euros. In other words, the system doesn’t create extra work for our employees. The containers are cleaned in our restaurants, but we didn’t have to modify our cleaning installations for this.’
In recent months, UAntwerp managed to prevent 7768 litres of waste – the equivalent of 129 rubbish bags. Komida is continuing on its current path and also has concrete plans to replace the disposable containers in which desserts are served with reusable ones.
UAntwerp: Unique approach
Sustainability is also being worked on outside the restaurants. For instance, a pilot with reusable coffee cups is being conducted on the Groenenborger and Middelheim campuses, once again in collaboration with Vytal. In this project, students and employees can buy coffee at a self-service station. The method involving reusable cups and no deposits is unique in Belgium.
‘Taking or returning a cup is done using a QR code,’ says Verplancke. ‘We started in September and the new approach seems to be working. The number of coffees sold is even a bit higher than last year. The pilot project will run until the end of December. In case of a positive evaluation, it will be rolled out on all of the UAntwerp campuses in January.’
NEW YORK, USA –The global energy drinks market size is estimated to grow by USD 40.04 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 8% during the forecast period. Hectic lifestyle and need for instant energy is driving market growth, with a trend towards increase in demand for low-calorie energy drinks. However, stiff competition from low-cost substitutes poses a challenge.
Key market players include Abbott Laboratories, Britvic plc, Cargill Inc., Decathlon SA, DyDo Group Holdings Inc., Hype Energy, Keurig Dr Pepper Inc., Monster Beverage Corp., National Beverage Corp., Otsuka Holdings Co. Ltd., PepsiCo Inc., Red Bull GmbH, Slades Beverages, Suntory Beverage and Food Europe, and The Coca Cola Co.
The Energy Drinks Market is experiencing significant growth due to increasing consumer demand for instant energy and mental stimulation. Caffeine, a key ingredient in soft drinks and carbonated beverages, is a major driver of this trend. Fruit and vegetable flavors, vitamins and minerals, and electrolytes are also popular additives in energy drinks.
Rising incomes and a focus on health and wellness have led to the popularity of immunity-boosting beverages and supplements. Taurine, ginseng, and guarana are common stimulants used in energy drinks. However, there are health risks associated with excessive caffeine intake, including hypertension, nausea, restlessness, and sleep deprivation.
The nonalcoholic segment, including sports drinks and beverage concentrates, dominates the market. Adults and teenagers are the primary consumers, with millennials and the younger generation showing a preference for functional ingredients like yerba mate and green tea extract.
The market is expected to continue growing, with expert analysis suggesting that consumer preferences and purchasing patterns will shape future trends. Alcoholic and nonalcoholic beverages, including water, tea, coffee, and energy drinks, all play a role in the market.
Sweeteners, dietary choices, and the diabetic and prediabetic segments are also important considerations. Major players in the market include Red Bull, Monster Energy, and various fruit flavors like lemon, lime, orange, berry, watermelon, and mango.
The energy drink market has experienced significant growth due to changing consumer preferences. With increasing health awareness, there is a rising demand for low-calorie energy drinks. Obesity is a major concern, leading consumers to avoid beverages with high sugar content. In response, manufacturers like Red Bull have introduced sugar-free variants.
The food and beverage industry is witnessing a trend towards healthier options. Energy drinks, once associated with high sugar content, are now shifting towards healthier alternatives. This shift is a response to consumers’ increasing health consciousness and desire for beverages that support an active lifestyle without compromising their health.
NEW YORK, USA – Chicory (Cichorium intybus L.) is a globally cultivated perennial herb belonging to the genus Cichorium in the Asteraceae family. Native to the Mediterranean region of Europe, this versatile species can thrive in various temperate and semi-arid climates, including northern Africa, parts of central Asia, the eastern United States, and Australia.
Several varieties of chicory are cultivated for different purposes, including salad leaves, chicons, and roots, which are often baked, ground, and used as a coffee substitute and dietary supplement. Additionally, chicory is grown as forage for poultry and livestock.
Chicory herb is recognized for its numerous health benefits, functioning as a powerful antioxidant and anti-inflammatory agent. It serves various roles, including a sedative, immunological enhancer, and reproductive health promoter. The herb also contributes to cardiovascular health, helps lower lipid levels (hypolipidemic), and exhibits anticancer, anti-protozoal, gastro-protective, and antidiabetic properties.
The increasing use of chicory as a coffee substitute is significantly driving growth in the global market. Coffee, known as a premium beverage commodity, has seen a surge in prices due to various factors affecting the coffee industry, making it challenging for manufacturers to manage rising raw material costs. In response, many companies are blending chicory, which is cheaper than coffee, into their products to protect profit margins.
Notably, several major brands have adjusted their formulations, raising the chicory content in their coffee sachets from 30% to 49%. This shift not only helps control costs but also enhances the demand for chicory cultivation and harvesting. As a result, there is a growing need for chicory roots to produce instant chicory powder, especially in countries where coffee prices are skyrocketing.
ZURICH, Switzerland – The Barry Callebaut Group saw resilient sales volume of 2,279,811 tonnes (0.0% year-on-year) in fiscal year 2023/24 (ended August 31, 2024). Sales volume was down -1.2% in the fourth quarter, impacted by the phasing of customer purchases in Gourmet and decisive action to temporarily shut down the Toluca, Mexico facility proactively.
Global Chocolate saw +0.3% volume growth in fiscal year 2023/24, ahead of an overall declining chocolate confectionery market according to Nielsen (-1.1%). Volume development for Food Manufacturers (-1.5%) was impacted by soft demand from large global customers, partly offset by resilient performance for Private Label customers. Gourmet delivered +9.8% volume growth, with strong performance across geographies and market segments.
Looking at regional performance within Global Chocolate, Asia Pacific, Middle East and Africa (+5.2%) was the strongest contributor, with double-digit growth in the second half of the year supported by continued strong growth in India and improved performance in Indonesia. Volume in Western Europe (+0.8%) was solid as growth for Gourmet offset slower demand for Food Manufacturers. Latin America saw strong volume growth of +7.2% led by strong momentum in Brazil, particularly for Gourmet customers. Central and Eastern Europe (-1.2%) was impacted by lower volumes for several large global and regional customers. North America reported a volume decrease of -1.8%, driven by slower demand for large Food Manufacturers, while regional accounts and Gourmet saw continued momentum.
Global Cocoa saw a -1.4% decrease in sales volume, in the context of a significant increase in cocoa prices. Sales of cocoa butter and cocoa liquor were impacted by the supply constrained environment. Demand for cocoa powder remained robust, with particular strength in India and Indonesia.
The Barry Callebaut Group sales revenue increased +28.1% in local currencies (+22.6% in CHF), to CHF 10,386.3 million. The increase was driven by significant price increases to reflect the acceleration in cocoa bean prices, which Barry Callebaut manages through its cost-plus pricing model for the majority of its business.
Gross profit amounted to CHF 1,382.3 million, up +7.7% in local currencies (+2.5% in CHF), supported by the company’s cost-plus pricing model and mix.
Operating profit (EBIT) recurring amounted to CHF 704.4 million, increasing by +12.7% in local currencies (+6.8% in CHF). The strong increase reflected the pass-through of higher financing costs through the cost-plus model, which are offset below the EBIT level, as well as mix and initial BC Next Level cost savings. During the year, quality costs increased with proactive action to ensure customer service in the case of incidents as well as tightened testing regimes and quality control. EBIT recurring4 for Global Chocolate was CHF 725.5 million, up +14.3% in local currencies (+7.6% in CHF), similarly reflecting the strength of the Group’s cost-plus model. EBIT recurring4 for Global Cocoa was CHF 100.7 million, down -3.2% in local currencies (-6.0% in CHF). The decrease was a result of lower volumes in a supply constrained market as well as higher carry costs and futures rolling costs. The Corporate segment saw EBIT recurring4 of -121.8 million, down -7.9% in local currencies (0.3% in CHF). Recurring4 EBIT per tonne increased to CHF 309, up 12.7% in local currencies (+6.9% in CHF).
Operating profit (EBIT) reported amounted to CHF 446.1 million compared to CHF 659.4 million in the prior year, as a result of one-off BC Next Level operating expenses of CHF 264.5 million. Within this, CHF 171.4 million represent cash relevant non-recurring Next Level program and restructuring costs. Meanwhile, CHF 93.1 million of the one-off items were non-cash impairments and write-downs related to site closures.
Net profit recurring for the period amounted to CHF 417.5 million, down -2.0% in local currencies (-5.8% in CHF). Performance was impacted by the longer pricing cycle in the Gourmet business to fully pass-through accelerating costs, as well as higher quality costs. Net finance costs increased significantly to CHF -207.3 million, up from CHF -124.1 million in the prior year, mostly as a result of the higher debt level in the context of the cocoa bean price acceleration. On a recurring5 basis, income tax expense decreased to CHF 74.8 million from CHF 92.1 million in the prior-year period. This corresponds to an effective tax rate of 15.2% (prior-year period: 17.2%). The decrease in effective tax rate on a recurring basis mainly resulted from a somewhat more favorable mix of profit before taxes and the positive effect related to the Swiss Tax Reform that was introduced on January 1, 2020.
The Barry Callebaut Group net profit reported amounted to CHF 190.9 million, including one-off BC Next Level program expenses.
Net working capital increased to CHF 3,808.0 million, compared to CHF 1,466.2 million in the prior year. The increase was entirely due to the substantial negative impact from higher cocoa bean prices, given the long cycle between bean contracting and customer sales, as well as a significant increase in initial margins required by futures exchanges given the volatile environment.
Free cash flow declined to CHF -2,330.7 million, compared to CHF 113.0 million in the prior year. Operational improvements were driven by actions on planning and operational excellence, resulting in an improved cash conversion cycle. This was more than offset by the substantial cocoa bean price related working capital increase as well as BC Next Level program investments.
Net debt increased to CHF 3,818.0 million from CHF 1,308.7 million in the prior-year period. The increase is predominantly due to the CHF 2,696.7 million increase in inventory value due to the cocoa bean price acceleration.
SEBASTOPOL, Calif., USA – Guayakí Yerba Mate, a trailblazer in the yerba mate and organic beverage industries, today proudly announces that its Traditional Organic Loose Leaf Yerba Mate has been awarded in Good Housekeeping’s coveted 2024 Best Kitchen Gear, Coffee, and Tea Awards. View the complete list of winners here.
Guayakí’s Traditional Loose Leaf Yerba Mate offers a pure blend of naturally caffeinated yerba mate leaves, delivering smooth energy, rooted in tradition. Loose leaf makes the centuries-old mate ritual of sharing mate accessible to everyone, whether enjoyed using a traditional gourd or brewed in a French press.
Each sip supports Guayakí’s mission of regenerative agriculture, fair trade, and ecosystem restoration, deepening partnerships with local growers and Indigenous communities.
“Our Traditional Loose Leaf Yerba Mate has always been more than just a drink—it’s a bridge between cultures, a celebration of heritage, and a commitment to regenerating people and the planet,” said Robyn Rutledge, Executive Chairman of Guayakí Yerba Mate.
Guayakí’s iconic yellow cans and distinction as the world’s first Regenerative Organic Certified® loose leaf mate illustrate the brand’s commitment to growing the yerba mate category with products that drive positive change.
As a founding B Corp and the 2024 Mindful Awards Company of the Year, Guayakí Yerba Mate has aspired to create a net positive impact in the world with its regenerative business model for nearly 30 years.
Learn how to brew yerba mate at home here, and discover its rich heritage at Guayaki.com.
