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).
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.
