Chocolate makers must pay double the market price for cocoa farmers to receive a living income, says the CEO of Fairtrade as the organization gears up to review pricing.
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).