Farmers are finally benefiting from sky-high cocoa prices

Choc-tastic news! Côte d'Ivoire has announced that cocoa farmers will also see some relief from the sky-high cocoa prices. They will receive 50% more for their beans for the rest of this season. And while this is great news for farmers, the underlying reality is quite bitter. Let us explain.

The government of Côte d'Ivoire determines the minimum price for cocoa at the start of each cocoa season. With this price they offer farmers stability, regardless of what the market does. Halfway through the season, the minimum price is re-established for the remaining months. And yesterday this price made a huge jump, making it equal to the Living Income Reference Price (LIRP). 

Why are cocoa prices rising? Due to climate change, the harvest is extremely low. Although farmers get more for their beans, they sell fewer of them. As a result, it is still impossible for many farmers to earn a living income.

So, we'll say it again: ending exploitation in cocoa is only possible by applying all 5 cooperation principles. No exceptions!

Yep, large chocolate companies also have to pay this higher minimum price. And that is of course great. But hey... they should also pay this higher price for the longer term, and also invest in increasing productivity, quality and climate resilience. Because now that climate change is increasingly having an impact on cocoa, it is time for us to take responsibility. All of us, together. 

Psst.. curious about the price + premiums we pay for our cocoa? We have put it in a handy overview!