ADM has confirmed that a sale of its cocoa business could be on the cards.

However, it was quick to point out that the business regularly evaluates its strategic options “and maintains ongoing dialogue with other agribusiness companies to explore opportunities”.

Jackie Anderson, spokesperson for the global ingredients company, said: “We are currently engaged in discussions about the potential sale of our cocoa business.

“These discussions are ongoing, and there can be no assurance that they will result in the signing of a transaction or definitive agreement. We will communicate further if appropriate.”

ADM is one of the world’s largest processers and suppliers of cocoa and chocolate products.