Browsing: Cocoa beans

chocolate gettyimages 473741340
  • Bittersweet consequences. Global chocolate value chains are fueling desertification across West Africa, a new report says. 
  • As chocolate demand soars, Côte d’Ivoire, the world’s largest producer of cocoa beans is paying a huge price with 80 percent of its forest cover lost.
  • Corruption fueling illegal logging and deforestation of rainforests for cocoa farms

The raw material needed to make chocolate is cocoa beans, but West Africa, which produces 40 percent of the world’s produce, is destroying its rainforests at an unprecedented pace to feed global demand.

Already, Côte d’Ivoire, the world’s largest producer of cocoa beans has lost 80 percent of its forest cover over in just sic decades, the Food and Agriculture Organisation (FAO) reports.

FAO’s Transparency, Traceability and Deforestation survey in the Ivorian cocoa supply belt shows that the unmonitored value chain of chocolate is leaving populations vulnerable to adverse effects of climate change.

Chocolate demand rising globally

Top cocoa producers, Ghana and Ivory Coast, have boycotted a major industry meeting that was to be held in Brussels. Photo/Gettyimages

The World Cocoa Conference (WCC) was created back in 2012 by the International Cocoa Organization (ICCO) and was launched in Abidjan, Côte d’Ivoire.

According to the WCC organizers, “the event is held every two years to assess the status of the world cocoa economy, review current challenges and agree on measures to address these issues.”

This single event brings together the most diverse range of decision-makers and other stakeholders in the cocoa and chocolate value chain, from all over the world.

The WCC, provides a unique opportunity to deliberate the industry challenges and he new opportunities that are arising every year. The WCC is also a platform to collect vital industry information as well as for stakeholders to network.…

Buhari launches 13 million bags of Rice to reduce the prices.

Buhari said that the rice pyramids would aid efforts to reduce the price of rice in Nigeria. He expressed his expectations for other agricultural organizations to join the Central Bank of Nigeria (CBN)-funded Anchor Borrowers’ Programme (ABP) that supports Buhari’s drive for food sufficiency.

Speaking at the event Central Bank’s governor, Godwin Emefiele, said that CBN collaboration with RIFAN increased the national output of rice to over 9 million metric tonnes in 2021, up from about 5.4 metric tonnes in 2015.

Productivity per hectare of smallholder farmers has also increased from 2.4 metric tonnes to about five metric tonnes over the same period.…

cocoa1 800x570 1

Cocoa and Chocolate companies have been asked to pay more in premiums. The move which is being spearheaded by Ivory Coast and Ghana is aimed at supporting cocoa farmers’ wages.

The implementation of high premiums may however, take little longer bearing to the economic effects that have been brought about by the Covid-19 pandemic.

Head of Ivory Coast’s Coffee and Cocoa Council (CCC) Yves Kone acknowledged that the countries have limited leverage to force the hands of companies suffering from a fall in global demand due to the pandemic.

Ivory Coast and Ghana, which together produce about two-thirds of the world’s cocoa, introduced a $400 per tonne premium this season termed the living income differential (LID) to increase wages for farmers, many of whom live in poverty.

But Ivory Coast was forced to repeatedly slash a separate quality premium that exporters pay, known as the country differential, in response to …