Today, Amsterdam Commodities N.V. (Acomo), the Euronext Amsterdam-listed trader in spices and nuts, edible seeds, tea and food ingredients, reports improved performance and increased profitability during the first six months of 2020 (H1 2020) despite unprecedented circumstances.
Acomo navigated successfully through the challenges presented by COVID-19. Thanks to the Group’s global sourcing reach combined with strong local operational and supply chain capabilities it adapted quickly to sudden changes, disruptions and local lockdowns when they arose. Product availability at origin was steady due to good crops, but certain production facilities experienced lockdowns and transportation of goods was challenging in a number of cases. Overall, demand for products remained strong, however with distinct differences between channels and fluctuations through time. Demand in the food processing industry and retail in March especially, while lockdowns at the same time have weighed heavily on foodservice demand since March.