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The world’s top cocoa producers, Ghana and Ivory Coast, boycotted meetings in Brussels of the World Cocoa Foundation on cocoa sustainability held for two days on 26-27 October 2022
The world’s top cocoa producers, Ghana and Ivory Coast, boycotted meetings in Brussels of the World Cocoa Foundation on cocoa sustainability held for two days on 26-27 October 2022. Authorities in the two West African countries accused cocoa traders and multinational chocolate companies of blocking efforts to improve cocoa farmers’ incomes.
The concern of the two west African countries is related to the Living Income Differential (LID), which is set at a standard of US$400 per tonne and charged on top of world prices. The LID was introduced in 2019 to guarantee cocoa farmers a minimum price. However, commodity traders set a negative differential for the two nations at 260 dollars per tonne.
Both countries account for about two-thirds of global cocoa production. But farmers in those countries earn less than 6% of revenues in a chocolate industry valued at more than US$100 billion a year. Four civil society organizations in Ghana and Ivory Coast have thrown their weight behind the boycott.
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The World Cocoa Foundation represents 80% of the cocoa producers globally, The organization says that its 2022 meetings were to discuss steps to improve farmers’ pay, combat child labour, and end deforestation linked to the cultivation of the crop.
