ofi affirms its commitment to a more resilient coffee supply chain in the face of increased market volatility

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Submitted by ofi

LONDON, July 14, 2022 / CSRwire/ – olam food ingredients (ofi), one of the world’s leading green coffee exporters, today announced that its coffee teams of 18 origins around the world have reached 105,000 farmers supporting sustainability – more than half way towards the 200,000 target by 2025.

The support covers training, technical assistance, fertilizers and seedlings, and access to higher value markets and has translated into various improvements in productivity and incomes for farmers under ofiManaged Sustainability Programs. These include a 32% yield increase for farmers in San Martín, Peru and certification premiums of US$830,000 distributed to more than 14,000 farmers in the Aceh and North Sumatra regions of Indonesia.

These achievements are part of Coffee LENS (Livelihoods, Education and Nature at Large), ofiSustainability ambition for the future of coffee and published in the first Impact Report. It sets out progress in collaboration with clients and partners across more than 40 sustainability projects against the 2025 goals, which include goals related to farmers’ livelihoods, child labor prevention, and climate action.

Since these goals were launched in October 2020, coffee prices have recovered from a four-year low to hit record levels.

but, Vivek Verma, CEO of coffee at ofi He points out that this will only provide a temporary respite for the world’s 12.5 million smallholders, and is therefore a compelling reason to continue focusing on scaling up actions: “The already “best off” farmers with larger farms are those who will benefit most from periods of higher prices. Meanwhile, the increased volatility of the coffee price cycle that we have seen for more than 40 years, combined with the effects of climate change, is raising questions about the viability of coffee production for smallholders. Coffee LENS challenges us to do more to contribute to a fairer and more resilient coffee future, while continuing to provide high-quality, sustainable ingredients to our roasting and processing customers.”

The report also shares other key milestones including the introduction of a digital Child Labor Monitoring and Remediation System (CLMRS), the planting of 2 million trees to promote renewable agriculture, soil regeneration across land equivalent to 11,000 football fields, and the ability to provide customers with verified traceability. 100% from its direct source for coffee. Data collected by ofi At the farm level, it fuels the Sustainability Insights platform AtSource, providing customers with the social and environmental footprint of their coffee purchases, which then informs continuous improvement programs.

Verma contact: “The level of data and insights we now have at our fingertips helps us determine how and where to work with our partners. Now, we need to bring more partners – from industry, governments, NGOs – into our existing programs to scale up impact. I am confident that together we can build On what we have achieved to achieve our long-term goals while supporting our goal of being the change for good food and a healthy future.”

Erica Costins-Smit, Rainforest Alliance added:We welcome public commitments ofi identified for its coffee business. Great companies have the power and resources to implement sustainability solutions at scale – catalyzing positive change to critically important landscapes and the livelihoods of millions of rural residents. We are calling ofi To continue the journey with the Rainforest Alliance towards a world where people and nature thrive together.”

about ofi
Ovi (Olam Food Ingredients) is a new process group born out of Olam. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and fun products they love. It consists of leading companies in the cocoa, coffee, dairy, nuts and spice industries. ofi has built a unique presence in the global value chain including its own farming operations, farm gate establishment, and manufacturing facilities. Leveraging on its complementary and premium portfolio of ‘trendy’ food products, ofi collaborates with clients to co-create solutions that anticipate and meet changing consumer preferences while increasing demand for healthy, traceable and sustainable foods. To subscribe to ofi Newsroom, please visit www.ofi.com (privacy statement here). If you do not wish to receive information from ofi Please contact media@ofi.com. Follow @ofi-group on LinkedIn.

About Olam
Olam is a leading food and agricultural business that supplies food, ingredients, feed and fiber to 17,300 customers worldwide. Its value chain spans more than 60 countries and includes cultivation, processing and distribution operations, as well as a sourcing network of an estimated five million farmers. Headquartered and listed in Singapore, Olam currently ranks among the top 30 listed primary companies by market capitalization on SGX-ST. Since June 2020, Olam has been included in the FTSE4Good Index Series, a global index chain for sustainable investment developed by FTSE Russell, after rigorous assessment of Olam’s supply chain activities, their impact on the environment and transparency of governance. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and are used by a variety of market participants to create and evaluate responsible investment funds. More information about Olam can be found at www.olamgroup.com. To subscribe to the Olam Newsroom, please visit www.olamgroup.com and read the privacy statement here. If you do not wish to receive information from Olam, please contact media@olamnet.com.

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about ofi
Olam food ingredients (ofi) is a new operating group born out of Olam International. ofi Offers sustainable, natural and value-added food products and ingredients so that consumers can enjoy the healthy and fun products they love. It consists of the leading manufacturers of cocoa, coffee, dairy products, nuts and spices. ofi He has built a unique global value chain presence including his own farms, farm gate establishment, and manufacturing facilities. ofi Partners with customers, leveraging its complementary and differentiated portfolio of “trendy” food products, to co-create solutions that anticipate and meet changing consumer preferences while increasing demand for healthy, traceable and sustainable foods. To subscribe to ofi Newsroom (when the site goes live on October 21), please visit www.ofi.com (privacy statement here). If you do not wish to receive information from ofi Please contact media@olamnet.com. Follow @ofi . group

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