Cocoa farmers across the Ivory Coast are to receive higher prices for their beans in a partnership between ice cream giant Ben & Jerry鈥檚 and the Fairtrade Foundation.
About 5,000 cocoa farmers in the Ben & Jerry鈥檚 supply chain in the Ivory Coast will receive approximately 600,000 dollars (拢449,000) more over the next year.
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This amount is on top of the annual Fairtrade premium of around 970,000 dollars (拢727,000) and the Ivorian government鈥檚 minimum price for cocoa that all companies are required to pay.
Ben & Jerry鈥檚 global values-led sourcing manager Cheryl Pinto said: 鈥淲e鈥檙e committed to working for economic justice through our ice cream and now we鈥檙e making history by ramping up our commitment with the cocoa we buy.鈥
Ben and Jerry's was bought by Unilever in 2000 and still operates its business prioritising product quality, economic reward and a commitment to the community.
Cocoa farmers bear the risk of losses caused by climate change and extreme weather patterns, while many have virtually no control over global market prices and are at the mercy of price volatility.
The higher prices Ben & Jerry鈥檚 will be paying are the latest step in a package of living income interventions that they have implemented together with Fairtrade since 2015.
Louisa Cox, Fairtrade鈥檚 director of impact, said: 鈥淚t鈥檚 complex work to advance towards a living income but both organisations are committed to this vision.
鈥淏en & Jerry鈥檚 recognises the role of business in addressing the challenges in the cocoa sector and this commitment sets a great example for other companies to follow.鈥
