bakery, confectionery & speciality ingredients q2 2020
TRANSCRIPT
Newsletter BCS Q2 2020BAKERY, CONFECTIONERY & SPECIALITY
INGREDIENTSPage No 1 Q2 2020
Dear Readers,
We hope that you and your loved ones are all healthy, well and safe.
The Coronavirus pandemic has made personal and public health the most important global issue and is likely to play a significant role in shaping the next decade.
But perhaps the silver lining to this grey cloud will be a change for good and the creation of a healthier and safer future for our children. Our mission at FSL is to manufacture this reality with innovative and intelligent solutions to shape a healthier future for our industry and the consumer it feeds.
In this newsletter we will be featuring healthier solutions which partially replace egg in bakery applications and replace it with healthy ingredients. This solution also reduces raw material costs while improving product stability.
While health will be a key factor driving consumer decisions going forward, consumers are also seeking for new and indulgent experiences to enjoy at home as they have been deprived of the food service sector for 3 months. Despite the recent re-opening of restaurants and cafes in many countries, not everyone feels comfortable going out as they used to and this sentiment is likely to remain until this pandemic has come to an end.
Page No 2
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Around the world, there has been a definitive and obvious shift of consumer spending moving away from food service and being redirected towards the retail sector where consumers are seeking indulgent gastronomic experiences to enjoy at home such as chocolates, bakery items and desserts.
We will be covering solutions from DuPont and AB Mauri (our new partners) which improve the texture, freshness and stability of various bread applications which customers can enjoy at home.
We are also pleased to share with you our diverse range of cocoa powders from our partners Olam to support the development of new products or recipe reformulations.
As usual, at the end of this newsletter we have shared information on cocoa prices which will affect the future of this market in light of the current global situation.
Please feel free to contact us to discuss any of the solutions presented here and do let us know if there is a particular solution or product you would like us to cover in our next newsletter.
Page No 3
FiberStar-FSL Citri-Fi 200FG: Reducing the use of Egg in Muffins
FiberStar & FSL launched Citri-Fi Citrus Fiber products to offer customers a way to save costs by reducing the amount of egg required in various bakery applications. The great advantage of this solution is that while saving customers costs (and hedging them against price fluctuations in the volatile egg market) the product stability and nutritional profile is greatly improved offering the consumer a benefit as well. This is a true win-win healthier and cost-effective solution.
The World Health Organization (WHO) recommends at least 30 grams of dietary fiber consumption per day,¹ however, consumers in the GCC region are not consuming this required amount due to a high consumption of processed foods – especially amongst children. Adding Citrus Fibers to bakery items allows children to enjoy their favourite treats while also providing them with much needed dietary fiber to optimize their nutrition. Claims of fiber enriched products are now growing in various food and beverage categories as consumers become more health and label conscious.
Citrus Fiber is made from juice cells, peels, rag or segment membranes, and cores from oranges, lemons, limes, grapefruits, and tangerine.
Citrus Fiber contains carbohydrates, fiber (total dietary, soluble and insoluble), protein, and ash.
Reference: ¹ https://blog.euromonitor.com/nutrition-2017-fibre/
Page No 4
Benefits of using Citri-Fi 200FG & Citri-Fi 125FG
10-15% Egg Cost Reduction through Partial Whole Egg Replacement (20%), inventory load will be reduced. Quality Improvement through better moisture retention, improved freshness and prolonged shelf-life. Health Benefit: reduction in saturated fat and cholesterol content by reducing egg and replacing it with healthy dietary fiber. After COVID-19, consumers are reducing their consumption of animal products and the plant-based trend will continue to grow. Citri-Fi Product is natural and E number free healthy dietary fiber.
Comparative Formulas:
20% Reduced Egg Citri-Fi 125FG 1:21
Ingredients Unit % Unit % Unit %
Eggs 175 18.7 140 14.9 140 14.9
Oil 150 16.0 150 16.0 150 16.0
Citri-Fi 200FG 0 0.0 2.19 0.2 0 0.0
Citri-Fi 125FG 0 0.0 0 0.0 1.59 0.2
Water 112.5 12.0 112.5 12.0 112.5 12.0
Additional Water 0 0.0 32.81 3.5 33.41 3.6
Total 937.5 100.0 937.5 100.0 937.5 100.0
Results:
Page No 5
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Moisture Retention of Muffins over time: Sensory Evaluation of Muffins. Samples were balanced and random:
The tables and figures above demonstrate that either Citri-Fi 200FG and Citri-Fi 125FG can be used in addition with water to reduce 20% of eggs in a muffin application. This is accomplished while retaining additional moisture over time to improve sensory characteristics as indicated in the table above.
Conclusion:
Please contact us to discuss how FSL can help you save costs while improving the nutritional profile of your products.
Page No 6
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
FSL is proud to introduce our new partner AB Mauri, a leading player in the yeast ingredients market. AB Mauri is headquartered in the United States and is one of the world’s largest companies with 39 factories around the globe.
AB Mauri boasts cutting-edge production sites with the most advanced technology and technical knowledge. They are backed by an extensive team of scientists and technologists with enormous competency in biotechnology and yeast manufacturing.
AB Mauri & FSL have launched a range of instant dry yeast with AB Mauri-Diamond brand, an exclusive brand for FSL in all of its territories.
Page No 7
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
AB Mauri-Diamond Instant Dry Yeast is available in Low, All Purpose and High Sugar Versions
A special yeast strain was chosen to develop an All Purpose Yeast for low sugar dough application such as breads, lean products, high sugar products, croissants, Danish pastries, donuts, brioches etc. in addition to hamburger buns and samouli.
Unique Features of AB Mauri-Diamond Instant Dry Yeast:
High gassing power – produces high levels of CO2
Fast acting in a range of temperatures and proofing conditions
Quick dissolving in doughs – important in high speed mixers such as Tweedy
Competes across all sectors of the yeast market – especially in the high-end sector
Natural product (contains emulsifiers)
Easy handling at mixer
Consistent gassing activity
Good storage stability – (Up to 24 months under the right storage conditions)
Ambient storage
Dosage compared to fresh yeast is 1 to 3
(Hence 300g of fresh yeast requires only 100g of dry yeast)
Typical dosage is between 0.7% and 1.5% based on flour weight
Page No 8
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
AB Mauri & FSL’s bakery specialists possess extensive knowledge and expertise of each yeast strain for specific applications which meet varying consumer tastes and needs. The end results we offer are tailored products across a wide range of bakery applications including sandwich breads, baguettes, steam buns, flat breads, buns and rolls.
GM, Vivek Upreti working with AB Mauri to improve bakery products in the FSL Lab in Dubai
Page No 9
DuPont & FSL: All-purpose Bread, Bun and Croissant Improver: Grindsted Powerbake Premium A8300
DuPont & FSL have developed an all-purpose bread improver that can be applied in wide range of bread applications. Our objective is to simplify the work of bakers and optimize the functional characteristics of their products.
GRINDSTED POWERBAKE PREMIUM A8300 – A blend of emulsifier and food enzyme preparations in powder form.
Our all-purpose bread improver is a well-balanced combination of various baking ingredients mixed together with the right formulation to offer the following properties:
Reducing agents to restructure gluten
Providing oxidants to strengthen the gluten network for optimal gas retention
Appropriately dosed baking enzymes, including alfa amylase, to release fermentable sugars that feed the yeast
Antistaling enzyme which gives better resilience and prolonged freshness of bread items
High grade emulsifiers to consolidate gluten for increased tolerance and which enhance crumb softness
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
APPLICATION BENEFITS:
Improved volume
Improves dough stability
Improves crumb softness
Improves crumb structure
Improves freshness and resilience of toast bread for 7 to 10 days
Can be used as bread / bun / brioche / croissant improver
Can be used for brown bread / high fiber bread / multigrain bread
with dosage variations
USAGE LEVELS:
For toast bread, sweet bun and burger bun 0.7 to 1%
For croissant / brioche 1 to 1.2%
For brown bread / multigrain bread 1.2 to 1.5%
Page No 10
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
OLAM Cocoa & FSL: Meet your match, Celebrate the art of baking with premium Cocoa Powders With more than a century of cocoa expertise, Olam’s carefully selected cocoa beans are processed into high quality cocoa powders that ensure the production of consistent biscuit and bakery products.
Impressive sensory experiences that delight and excite require the right ingredients. Our diverse range of cocoa powders supports the development of new application creations or recipe reformulations.
FLAVOUR AND COLOUR SOLUTIONS TYPE ALKALISATION FLAVOUR PH INTRINSIC COLOUR FAT %
TrueDark (N11D) natural (no alkali added) balanced cocoa 5.5 medium brown 10-12
N11N natural (no alkali added) mild cocoa, fruity notes 5.6 light brown 10-12
D11A light mild chocolate 7.2 brown 10-12
D00ZR medium/strong intense chocolate 7.8 bright red <0.5
D11S strong full-bodied cocoa 8.0 red-brown 10-12
D11SQ
strong rich cocoa and chocolate taste without bier notes
8.0
S8 strong balanced cocoa 8.1 red-brown 10-12
D11RB strong strong bier cocoa 8.1 very dark brown 10-12
D11B strong strong bier cocoa 8.2 black 10-12
D11EB strong strong cocoa 8.3 extra black 10-12
S85
8.3
Page No 12
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Our distinctive natural and alkalised cocoa powders are specially formulated to perfectly complement bakery recipes.
The diverse deZaan portfolio of Olam cocoa allows for an approach that decreases the amount of cocoa powder required to achieve the same rich flavour and taste, same full colour and bold impacts as standard cocoa powders, resulting in cost saving.
Page No 13
D11S, D11RB & D11SQ for dark chocolate muffins & brownies
D00ZR is a low-fat cocoa powder for bakery products with sensitive structures
TrueDark (N11D) for clean-label, natural recipes
D11S, D11RB & D11SQ for dark chocolate muffins & brownies
D11S: offers full-bodied cocoa flavor, ideal for indulgent cakes.
D11RB: gives unique cocoa flavour with slightly bitter notes and an appealing dark brown color.
D11SQ: provides a rich, dark chocolate taste and intense brown color.
The fat content of certain cocoa powders can disrupt and negatively impact the structural stability and foam formation in sponge cakes and meringues.
D00ZR, with approximately 0.5 % fat is the ideal solution as it will not interfere with protein sensitive structures in bakery products.
TrueDark is the first dark natural (i.e. non-alkalised) cocoa powder to offer powerful cocoa taste and rich brown color. Use this cocoa powder to invent new bakery recipes and reformulate existing ones to meet growing market demand for transparent and straightforward ingredient lists.
When it comes to the darkest brown and black cocoa powders, deZaan has the proven ingredient solutions.
D11B: for black cookies and biscuits with an intense cocoa flavour.
D11EB: delivers the darkest color of all and is one of the darkest cocoa powders in the industry that still gives a clean, strong cocoa flavor. This is the optimal product solution for formulating chocolate biscuits.
5% D11B is equivalent to 4% D11EB
Page No 14
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
COCOA MARKET REVIEW MAY 2020 This review of the cocoa market situation focuses on the prices of the May-2020 and Jul-2020 futures contracts listed on ICE Futures Europe (London) and ICE Futures U.S. (New York) during the month of May 2020. It aims to highlight key insights on expected market developments and the effect of the exchange rate on the US-denominated prices of the said contracts.
Figure 1 shows the development of the aforementioned futures contracts prices on the London whilst Figure 2 depicts the evolution of prices for the same futures contracts on the New York market at the London closing time. Hence, by monitoring the development of the US dollar index in May, one can determine the impact of the US dollar exchange rate on the development of the futures prices during the period under review. Figure 3 presents monthly averages of cocoa butter and powder prices in Europe and the United States since the start of the 2019/20 crop year.
Figure 1: Prices of the May-2020 and Jul- 2020 futures contracts on the London (ICE Futures Europe) market in US$ per tonne
Figure 2: Prices of the May-2020 and Jul- 2020 futures contracts on the New York (ICE Futures U.S.) market in US$ per tonne
Page No 15
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
PRICE MOVEMENTS During May, the front-month cocoa futures contracts prices averaged US$2,431 per tonne and seesawed between US$2,355 per tonne and US$2,514 per tonne in London (Figure 1). Concurrently in New York, prices for the first position of cocoa futures contracts averaged US$2,411 per tonne and oscillated between US$2,342 per tonne and US$2,481 per tonne (Figure 2). Both futures markets were in backwardation – more pronounced in London – and experienced volatility.
Over the period 1-13 May, prices of the May-2020 contract averaged US$2,476 per tonne and ranged between US$2,434 per tonne and US$2,514 per tonne in London. In New York, prices of the front month contract averaged US$2,423 per tonne and ranged between US$2,381
per tonne and US$2,481 per tonne. At the time, market participants were envisaging potential disruptions in the shipments of cocoa beans following the Ivorian Government’s announcement to extend the state of emergency in the country to curb the spread of the coronavirus pandemic. Furthermore, cumulative arrivals of cocoa in Côte d’Ivoire were seen at 1.784 million tonnes, down by 5.7% compared to the 1.891 million tonnes recorded the year before; whilst in Ghana, purchases of graded and sealed cocoa were established at 698,493 tonnes, down by 0.9% compared with levels reached during the same period of the previous season.
At the expiry of the May-2020 contract on 13 May, the adjustment in the price of the nearby futures contract in London was more abrupt than in New York because of the high premium. Despite uncertainties which stemmed from the plausible burden of the coronavirus pandemic on the global commodity market including cocoa, prices of the first position cocoa contract increased slightly by 1.1% from US$2,388 to US$2,415 per tonne in London and by 1.5% from US$2,413 to US$2,448 per tonne in New York. At the same time, cumulative port arrivals in Côte d’Ivoire decreased year-on-year and the US dollar depreciated by approximately 1%. Hence, the slight improvement seen on cocoa prices was mostly fueled by current movements.
Page No 16
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Figure 3 shows that compared with the average prices recorded at the start of the 2019/20 cocoa year, prices for cocoa butter plunged during May in both Europe and the United States, the world’s largest cocoa consuming markets. Indeed, prices for cocoa butter plummeted by 10% from US$6,331 to US$5,727 per tonne in the United States, while in Europe they declined by 8%, moving from US$6,260 to US$5,739 per tonne.
Compared to the levels reached in October 2019, prices for cocoa powder substantially rose on both markets, increasing by 24% from US$2,261 to US$2,810 per tonne in the United States. During the same time frame in Europe, powder prices rose by 28% from US$2,003 to US$2,564 per tonne.
In addition, compared to their average values recorded at the start of the 2019/20 cocoa year, the nearby cocoa futures contract prices increased slightly by 0.3% from US$2,423 to US$2,431 in London at the end of May 2020. Conversely, in New York, the front - month contract prices shrunk by 2.3% from US$2,467 to US$2,411 per tonne over the same period.
Figure 3: Monthly averages of cocoa butter and powder prices in Europe and in the United States from October 2019 to May 2020
Page No 17
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Cocoa production in Côte d’Ivoire continues to lag further behind the record level reached during the 2018/19 crop year. Indeed, as at 7 June 2020, cumulative cocoa arrivals, since the start of the 2019/20 crop season, were seen at 1.881 million tonnes, down by 6.9% from 2.021 million tonnes reached during the same period a year earlier. In Ghana, the Ghana Cocoa Board (COCOBOD) published data showed that Ghanaian graded and sealed cocoa for the 2019/20 crop year decreased by 1.6% year-on-year to reach 714,523 tonnes on 15 May 2020.
The recent forecasts for the 2019/20 cocoa season published by the ICCO Secretariat in its latest issue of the Quarterly Bulletin of Cocoa Statistics reveal anticipations of a lower growth in grindings compared to the previous cocoa season. Grindings are expected to reduce to 4.783 million tonnes, down by 78,000 tonnes. This lower forecast reflects that the coronavirus pandemic is undermining demand in the usual mature markets (Europe and North America) as well as Asia (the continent that is reputed for witnessing stronger growth in processing activities). It is projected that processing activities will increase by 5% to 1.201 million tonnes in Asia and Oceania whereas a growth of 0.5% to 1.022 million tonnes is anticipated in Africa. On the contrary, in the Americas, processing activities are forecast to contract by 3% to 873,000 tonnes while a 2% decline to 1.687 million tonnes is envisaged in grindings activities for Europe as compared to the level attained in the same period of the previous season.²
Cocoa Supply and Demand Situation
Reference: ² https://www.icco.org/statistics/monthly-review-of-the-market.html
Page No 18
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Please contact FSL if you are interested in any of the above products or topics:
Mr. Vivek Upreti Food Specialities Limited
Bakery, Confectionery & Speciality Ingredients [email protected]
+971 4 8069653
Dear Readers,
We hope that you and your loved ones are all healthy, well and safe.
The Coronavirus pandemic has made personal and public health the most important global issue and is likely to play a significant role in shaping the next decade.
But perhaps the silver lining to this grey cloud will be a change for good and the creation of a healthier and safer future for our children. Our mission at FSL is to manufacture this reality with innovative and intelligent solutions to shape a healthier future for our industry and the consumer it feeds.
In this newsletter we will be featuring healthier solutions which partially replace egg in bakery applications and replace it with healthy ingredients. This solution also reduces raw material costs while improving product stability.
While health will be a key factor driving consumer decisions going forward, consumers are also seeking for new and indulgent experiences to enjoy at home as they have been deprived of the food service sector for 3 months. Despite the recent re-opening of restaurants and cafes in many countries, not everyone feels comfortable going out as they used to and this sentiment is likely to remain until this pandemic has come to an end.
Page No 2
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Around the world, there has been a definitive and obvious shift of consumer spending moving away from food service and being redirected towards the retail sector where consumers are seeking indulgent gastronomic experiences to enjoy at home such as chocolates, bakery items and desserts.
We will be covering solutions from DuPont and AB Mauri (our new partners) which improve the texture, freshness and stability of various bread applications which customers can enjoy at home.
We are also pleased to share with you our diverse range of cocoa powders from our partners Olam to support the development of new products or recipe reformulations.
As usual, at the end of this newsletter we have shared information on cocoa prices which will affect the future of this market in light of the current global situation.
Please feel free to contact us to discuss any of the solutions presented here and do let us know if there is a particular solution or product you would like us to cover in our next newsletter.
Page No 3
FiberStar-FSL Citri-Fi 200FG: Reducing the use of Egg in Muffins
FiberStar & FSL launched Citri-Fi Citrus Fiber products to offer customers a way to save costs by reducing the amount of egg required in various bakery applications. The great advantage of this solution is that while saving customers costs (and hedging them against price fluctuations in the volatile egg market) the product stability and nutritional profile is greatly improved offering the consumer a benefit as well. This is a true win-win healthier and cost-effective solution.
The World Health Organization (WHO) recommends at least 30 grams of dietary fiber consumption per day,¹ however, consumers in the GCC region are not consuming this required amount due to a high consumption of processed foods – especially amongst children. Adding Citrus Fibers to bakery items allows children to enjoy their favourite treats while also providing them with much needed dietary fiber to optimize their nutrition. Claims of fiber enriched products are now growing in various food and beverage categories as consumers become more health and label conscious.
Citrus Fiber is made from juice cells, peels, rag or segment membranes, and cores from oranges, lemons, limes, grapefruits, and tangerine.
Citrus Fiber contains carbohydrates, fiber (total dietary, soluble and insoluble), protein, and ash.
Reference: ¹ https://blog.euromonitor.com/nutrition-2017-fibre/
Page No 4
Benefits of using Citri-Fi 200FG & Citri-Fi 125FG
10-15% Egg Cost Reduction through Partial Whole Egg Replacement (20%), inventory load will be reduced. Quality Improvement through better moisture retention, improved freshness and prolonged shelf-life. Health Benefit: reduction in saturated fat and cholesterol content by reducing egg and replacing it with healthy dietary fiber. After COVID-19, consumers are reducing their consumption of animal products and the plant-based trend will continue to grow. Citri-Fi Product is natural and E number free healthy dietary fiber.
Comparative Formulas:
20% Reduced Egg Citri-Fi 125FG 1:21
Ingredients Unit % Unit % Unit %
Eggs 175 18.7 140 14.9 140 14.9
Oil 150 16.0 150 16.0 150 16.0
Citri-Fi 200FG 0 0.0 2.19 0.2 0 0.0
Citri-Fi 125FG 0 0.0 0 0.0 1.59 0.2
Water 112.5 12.0 112.5 12.0 112.5 12.0
Additional Water 0 0.0 32.81 3.5 33.41 3.6
Total 937.5 100.0 937.5 100.0 937.5 100.0
Results:
Page No 5
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Moisture Retention of Muffins over time: Sensory Evaluation of Muffins. Samples were balanced and random:
The tables and figures above demonstrate that either Citri-Fi 200FG and Citri-Fi 125FG can be used in addition with water to reduce 20% of eggs in a muffin application. This is accomplished while retaining additional moisture over time to improve sensory characteristics as indicated in the table above.
Conclusion:
Please contact us to discuss how FSL can help you save costs while improving the nutritional profile of your products.
Page No 6
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
FSL is proud to introduce our new partner AB Mauri, a leading player in the yeast ingredients market. AB Mauri is headquartered in the United States and is one of the world’s largest companies with 39 factories around the globe.
AB Mauri boasts cutting-edge production sites with the most advanced technology and technical knowledge. They are backed by an extensive team of scientists and technologists with enormous competency in biotechnology and yeast manufacturing.
AB Mauri & FSL have launched a range of instant dry yeast with AB Mauri-Diamond brand, an exclusive brand for FSL in all of its territories.
Page No 7
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
AB Mauri-Diamond Instant Dry Yeast is available in Low, All Purpose and High Sugar Versions
A special yeast strain was chosen to develop an All Purpose Yeast for low sugar dough application such as breads, lean products, high sugar products, croissants, Danish pastries, donuts, brioches etc. in addition to hamburger buns and samouli.
Unique Features of AB Mauri-Diamond Instant Dry Yeast:
High gassing power – produces high levels of CO2
Fast acting in a range of temperatures and proofing conditions
Quick dissolving in doughs – important in high speed mixers such as Tweedy
Competes across all sectors of the yeast market – especially in the high-end sector
Natural product (contains emulsifiers)
Easy handling at mixer
Consistent gassing activity
Good storage stability – (Up to 24 months under the right storage conditions)
Ambient storage
Dosage compared to fresh yeast is 1 to 3
(Hence 300g of fresh yeast requires only 100g of dry yeast)
Typical dosage is between 0.7% and 1.5% based on flour weight
Page No 8
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
AB Mauri & FSL’s bakery specialists possess extensive knowledge and expertise of each yeast strain for specific applications which meet varying consumer tastes and needs. The end results we offer are tailored products across a wide range of bakery applications including sandwich breads, baguettes, steam buns, flat breads, buns and rolls.
GM, Vivek Upreti working with AB Mauri to improve bakery products in the FSL Lab in Dubai
Page No 9
DuPont & FSL: All-purpose Bread, Bun and Croissant Improver: Grindsted Powerbake Premium A8300
DuPont & FSL have developed an all-purpose bread improver that can be applied in wide range of bread applications. Our objective is to simplify the work of bakers and optimize the functional characteristics of their products.
GRINDSTED POWERBAKE PREMIUM A8300 – A blend of emulsifier and food enzyme preparations in powder form.
Our all-purpose bread improver is a well-balanced combination of various baking ingredients mixed together with the right formulation to offer the following properties:
Reducing agents to restructure gluten
Providing oxidants to strengthen the gluten network for optimal gas retention
Appropriately dosed baking enzymes, including alfa amylase, to release fermentable sugars that feed the yeast
Antistaling enzyme which gives better resilience and prolonged freshness of bread items
High grade emulsifiers to consolidate gluten for increased tolerance and which enhance crumb softness
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
APPLICATION BENEFITS:
Improved volume
Improves dough stability
Improves crumb softness
Improves crumb structure
Improves freshness and resilience of toast bread for 7 to 10 days
Can be used as bread / bun / brioche / croissant improver
Can be used for brown bread / high fiber bread / multigrain bread
with dosage variations
USAGE LEVELS:
For toast bread, sweet bun and burger bun 0.7 to 1%
For croissant / brioche 1 to 1.2%
For brown bread / multigrain bread 1.2 to 1.5%
Page No 10
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
OLAM Cocoa & FSL: Meet your match, Celebrate the art of baking with premium Cocoa Powders With more than a century of cocoa expertise, Olam’s carefully selected cocoa beans are processed into high quality cocoa powders that ensure the production of consistent biscuit and bakery products.
Impressive sensory experiences that delight and excite require the right ingredients. Our diverse range of cocoa powders supports the development of new application creations or recipe reformulations.
FLAVOUR AND COLOUR SOLUTIONS TYPE ALKALISATION FLAVOUR PH INTRINSIC COLOUR FAT %
TrueDark (N11D) natural (no alkali added) balanced cocoa 5.5 medium brown 10-12
N11N natural (no alkali added) mild cocoa, fruity notes 5.6 light brown 10-12
D11A light mild chocolate 7.2 brown 10-12
D00ZR medium/strong intense chocolate 7.8 bright red <0.5
D11S strong full-bodied cocoa 8.0 red-brown 10-12
D11SQ
strong rich cocoa and chocolate taste without bier notes
8.0
S8 strong balanced cocoa 8.1 red-brown 10-12
D11RB strong strong bier cocoa 8.1 very dark brown 10-12
D11B strong strong bier cocoa 8.2 black 10-12
D11EB strong strong cocoa 8.3 extra black 10-12
S85
8.3
Page No 12
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Our distinctive natural and alkalised cocoa powders are specially formulated to perfectly complement bakery recipes.
The diverse deZaan portfolio of Olam cocoa allows for an approach that decreases the amount of cocoa powder required to achieve the same rich flavour and taste, same full colour and bold impacts as standard cocoa powders, resulting in cost saving.
Page No 13
D11S, D11RB & D11SQ for dark chocolate muffins & brownies
D00ZR is a low-fat cocoa powder for bakery products with sensitive structures
TrueDark (N11D) for clean-label, natural recipes
D11S, D11RB & D11SQ for dark chocolate muffins & brownies
D11S: offers full-bodied cocoa flavor, ideal for indulgent cakes.
D11RB: gives unique cocoa flavour with slightly bitter notes and an appealing dark brown color.
D11SQ: provides a rich, dark chocolate taste and intense brown color.
The fat content of certain cocoa powders can disrupt and negatively impact the structural stability and foam formation in sponge cakes and meringues.
D00ZR, with approximately 0.5 % fat is the ideal solution as it will not interfere with protein sensitive structures in bakery products.
TrueDark is the first dark natural (i.e. non-alkalised) cocoa powder to offer powerful cocoa taste and rich brown color. Use this cocoa powder to invent new bakery recipes and reformulate existing ones to meet growing market demand for transparent and straightforward ingredient lists.
When it comes to the darkest brown and black cocoa powders, deZaan has the proven ingredient solutions.
D11B: for black cookies and biscuits with an intense cocoa flavour.
D11EB: delivers the darkest color of all and is one of the darkest cocoa powders in the industry that still gives a clean, strong cocoa flavor. This is the optimal product solution for formulating chocolate biscuits.
5% D11B is equivalent to 4% D11EB
Page No 14
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
COCOA MARKET REVIEW MAY 2020 This review of the cocoa market situation focuses on the prices of the May-2020 and Jul-2020 futures contracts listed on ICE Futures Europe (London) and ICE Futures U.S. (New York) during the month of May 2020. It aims to highlight key insights on expected market developments and the effect of the exchange rate on the US-denominated prices of the said contracts.
Figure 1 shows the development of the aforementioned futures contracts prices on the London whilst Figure 2 depicts the evolution of prices for the same futures contracts on the New York market at the London closing time. Hence, by monitoring the development of the US dollar index in May, one can determine the impact of the US dollar exchange rate on the development of the futures prices during the period under review. Figure 3 presents monthly averages of cocoa butter and powder prices in Europe and the United States since the start of the 2019/20 crop year.
Figure 1: Prices of the May-2020 and Jul- 2020 futures contracts on the London (ICE Futures Europe) market in US$ per tonne
Figure 2: Prices of the May-2020 and Jul- 2020 futures contracts on the New York (ICE Futures U.S.) market in US$ per tonne
Page No 15
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
PRICE MOVEMENTS During May, the front-month cocoa futures contracts prices averaged US$2,431 per tonne and seesawed between US$2,355 per tonne and US$2,514 per tonne in London (Figure 1). Concurrently in New York, prices for the first position of cocoa futures contracts averaged US$2,411 per tonne and oscillated between US$2,342 per tonne and US$2,481 per tonne (Figure 2). Both futures markets were in backwardation – more pronounced in London – and experienced volatility.
Over the period 1-13 May, prices of the May-2020 contract averaged US$2,476 per tonne and ranged between US$2,434 per tonne and US$2,514 per tonne in London. In New York, prices of the front month contract averaged US$2,423 per tonne and ranged between US$2,381
per tonne and US$2,481 per tonne. At the time, market participants were envisaging potential disruptions in the shipments of cocoa beans following the Ivorian Government’s announcement to extend the state of emergency in the country to curb the spread of the coronavirus pandemic. Furthermore, cumulative arrivals of cocoa in Côte d’Ivoire were seen at 1.784 million tonnes, down by 5.7% compared to the 1.891 million tonnes recorded the year before; whilst in Ghana, purchases of graded and sealed cocoa were established at 698,493 tonnes, down by 0.9% compared with levels reached during the same period of the previous season.
At the expiry of the May-2020 contract on 13 May, the adjustment in the price of the nearby futures contract in London was more abrupt than in New York because of the high premium. Despite uncertainties which stemmed from the plausible burden of the coronavirus pandemic on the global commodity market including cocoa, prices of the first position cocoa contract increased slightly by 1.1% from US$2,388 to US$2,415 per tonne in London and by 1.5% from US$2,413 to US$2,448 per tonne in New York. At the same time, cumulative port arrivals in Côte d’Ivoire decreased year-on-year and the US dollar depreciated by approximately 1%. Hence, the slight improvement seen on cocoa prices was mostly fueled by current movements.
Page No 16
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Figure 3 shows that compared with the average prices recorded at the start of the 2019/20 cocoa year, prices for cocoa butter plunged during May in both Europe and the United States, the world’s largest cocoa consuming markets. Indeed, prices for cocoa butter plummeted by 10% from US$6,331 to US$5,727 per tonne in the United States, while in Europe they declined by 8%, moving from US$6,260 to US$5,739 per tonne.
Compared to the levels reached in October 2019, prices for cocoa powder substantially rose on both markets, increasing by 24% from US$2,261 to US$2,810 per tonne in the United States. During the same time frame in Europe, powder prices rose by 28% from US$2,003 to US$2,564 per tonne.
In addition, compared to their average values recorded at the start of the 2019/20 cocoa year, the nearby cocoa futures contract prices increased slightly by 0.3% from US$2,423 to US$2,431 in London at the end of May 2020. Conversely, in New York, the front - month contract prices shrunk by 2.3% from US$2,467 to US$2,411 per tonne over the same period.
Figure 3: Monthly averages of cocoa butter and powder prices in Europe and in the United States from October 2019 to May 2020
Page No 17
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Cocoa production in Côte d’Ivoire continues to lag further behind the record level reached during the 2018/19 crop year. Indeed, as at 7 June 2020, cumulative cocoa arrivals, since the start of the 2019/20 crop season, were seen at 1.881 million tonnes, down by 6.9% from 2.021 million tonnes reached during the same period a year earlier. In Ghana, the Ghana Cocoa Board (COCOBOD) published data showed that Ghanaian graded and sealed cocoa for the 2019/20 crop year decreased by 1.6% year-on-year to reach 714,523 tonnes on 15 May 2020.
The recent forecasts for the 2019/20 cocoa season published by the ICCO Secretariat in its latest issue of the Quarterly Bulletin of Cocoa Statistics reveal anticipations of a lower growth in grindings compared to the previous cocoa season. Grindings are expected to reduce to 4.783 million tonnes, down by 78,000 tonnes. This lower forecast reflects that the coronavirus pandemic is undermining demand in the usual mature markets (Europe and North America) as well as Asia (the continent that is reputed for witnessing stronger growth in processing activities). It is projected that processing activities will increase by 5% to 1.201 million tonnes in Asia and Oceania whereas a growth of 0.5% to 1.022 million tonnes is anticipated in Africa. On the contrary, in the Americas, processing activities are forecast to contract by 3% to 873,000 tonnes while a 2% decline to 1.687 million tonnes is envisaged in grindings activities for Europe as compared to the level attained in the same period of the previous season.²
Cocoa Supply and Demand Situation
Reference: ² https://www.icco.org/statistics/monthly-review-of-the-market.html
Page No 18
BAKERY, CONFECTIONERY & SPECIALITY INGREDIENTS Q2 2020
Please contact FSL if you are interested in any of the above products or topics:
Mr. Vivek Upreti Food Specialities Limited
Bakery, Confectionery & Speciality Ingredients [email protected]
+971 4 8069653