Cocoa farmers across the Ivory Coast are to receive higher prices for their beans in a partnership between ice cream giant Ben & Jerry’s and the Fairtrade Foundation.
About 5,000 cocoa farmers in the Ben & Jerry’s supply chain in the Ivory Coast will receive approximately 600,000 dollars (£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 (£727,000) and the Ivorian government’s minimum price for cocoa that all companies are required to pay.
Ben & Jerry’s global values-led sourcing manager Cheryl Pinto said: “We’re committed to working for economic justice through our ice cream and now we’re making history by ramping up our commitment with the cocoa we buy.”
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’s will be paying are the latest step in a package of living income interventions that they have implemented together with Fairtrade since 2015.
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Louisa Cox, Fairtrade’s director of impact, said: “It’s complex work to advance towards a living income but both organisations are committed to this vision.
“Ben & Jerry’s 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.”