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Holding out for a better FY17 from low cocoa prices and JV exit

PC Lee
PC Lee3/21/2017 03:43 PM GMT+08  • 2 min read
Holding out for a better FY17 from low cocoa prices and JV exit
SINGAPORE (March 21): OCBC advises Delfi shareholders to put on “hold” their investment decisions as lower cocoa prices could translate into better ingredients prices for the manufacturer of chocolate confectionery.
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SINGAPORE (March 21): OCBC advises Delfi shareholders to put on “hold” their investment decisions as lower cocoa prices could translate into better ingredients prices for the manufacturer of chocolate confectionery.

Delfi buys forward its raw material needs and cocoa prices have tumbled by as much as 44% to levels seen in 2008 on plentiful supply due to favourable weather and weak demand.

Recently, Delfi entered into an agreement to sell a 50% stake in PT Ceres Meiji Indotama (CMI) to JV partners Meiji Co. and Meiji Seika (Singapore).

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