Cocoa-buying companies met with government representatives from Côte d’Ivoire and Ghana on Friday to discuss how they could better combat poverty among farmers. In the meeting, the Cocoa buyers agreed to back a floor price on Cocoa sold from the West African countries. This includes paying a premium, on top of the Living Income Differential […]
COCOA BUYERS AGREE TO CÔTE D’IVOIRE AND GHANA’S PREMIUM SCHEMES Read More »
Part Two….. A Possible nepotism/corruption? Mondelez is a chocolate manufacturer, whereas Olam is global cocoa sourcing and cocoa processing firm. With Mondelez’s focus on chocolate manufacturing, it will only make sense to purchase their Cocoa beans (for the bean-to-bar chocolate) or their semi-processed cocoa products for chocolate manufacturing, all from Olam. I do not know
THE CONSEQUENCES OF MONDELEZ/OLAM’S PROJECT ON COCOA FARMERS AND THEIR ECONOMIES Read More »
The Nigerian Government stated last week that it was committed to increasing Nigeria’s cocoa production to 500,000 tonnes by 2024. The country, which is the fourth largest cocoa producer in the world, is expected to have a slight drop in production this year to around 270 -280,000 tonnes. Meeting the goal a mere two years
NIGERIA WANTS PRODUCTION OF 500K TONNES BY 2024. IS THAT REALISTIC? Read More »
Nigerian Cocoa farmers are growing concerned that they will soon be unable to afford the necessary farming supplies to carry out their duties. The price of chemicals and other farming inputs is reportedly rising, according to information provided by chemical dealers and traders in the area. This, combined with rising transportation costs and a weakening
WEAK CURRENCY AND HIGH PRICES A DOUBLE-WHAMMY FOR NIGERIAN COCOA FARMERS Read More »
In 2019, Ghana and Côte d’Ivoire, which account for around 60% of global cocoa production, set up the Living Income Differential system (LID). The LID system aimed to boost the income of the poorest cocoa growers in the West African regions by charging a premium to the multi-billion dollar chocolate industry purchasing their beans. It
NIGERIA READY TO JOIN ‘COCOA OPEC’ AND LID SYSTEM Read More »
Kwarme Kwateng has written an interesting analysis of the money paid to Cocoa farmers by COCOBOD, for their living income differential (LID). Ghana promised to pay farmers 100% of the money brought in by the Living Income Differential, but the devil, as they say, is in the detail, and Kwateng breaks down the numbers, and
ANALYSTS QUESTIONS IF COCOBOD SHORT-CHANGES FARMERS OVER LID Read More »
Italian chocolate makers Ferrero, have recently unveiled their Cocoa Charter and Cocoa Action Plan, renewing their commitment to responsible sourcing of ingredients for their products. The brand, famous for products such as Nutella and Ferrero Rocher, have said that they “seek excellence along the whole value chain, with particular focus on economic, social and environmental
FERRERO’S COCOA CHARTER AND ACTION PLAN Read More »
Nestlé has announced plans to combat child labour in cocoa farming across Ghana and Côte d’Ivoire, where the company sources most of its Cocoa. The food group intends to incentivise cocoa farmers to send their children to school instead of farms. This will be accomplished by paying farmers cash directly, on top of the Living
NESTLÉ TO PAY COCOA FARMERS TO KEEP CHILDREN IN SCHOOL Read More »
The world’s biggest cocoa producer reportedly stopped export sales as it closed out the season 10% down on last year, equating to a drop of 250,000 tons. If we consider that production will be down this year, we have finished our sales for this year Yves Kone – General Manager, CCC Last years harvest was
CÔTE D’IVOIRE CLOSES OUT SEASON 10% DOWN Read More »
Conseil café cacao (CCC), the regulator in Côte d’Ivoire, announced the new cocoa farmgate price on October 1st, and farmers are not pleased. The price is now 825 CFA ($1.45) per kilo, a discount of 18.5% from the previous year’s price of CFA 1,000, or ($1.77) per kilo. In an earlier article, we wrote farmers
CÔTE D’IVOIRE CCC DISAPPOINTS FARMERS WITH NEW FARMGATE PRICE Read More »
