Fairtrade urges EU to implement regulation to recognise the right to living income in cocoa sector in any forthcoming human rights due diligence regulation, as European Cocoa Association calls for an ‘enabling environment’ across the industry.
A new minimum price for Fairtrade organic cocoa, which comes into force early next year, will act as an income safety net for growers amid ongoing price volatility in the sector, according to the organization behind the standard.
There is enough volume of Fairtrade cocoa available to supply more large brands switching product lines to Fairtrade, according to the Fairtrade Labelling Organizations International (FLO).
A hike in US$50 in the Fairtrade premium per metric tonne (MT) of cocoa should encourage investment in sustainable cocoa initiatives and better farming practices, claims the group behind the standard, which expects ongoing growth in Fairtrade products.
