3 Min Read
ABIDJAN/LONDON (Reuters) - Ivory Coast and Ghana are cancelling all cocoa sustainability schemes that U.S.-based Hershey runs in their countries, accusing the chocolatemaker of trying to avoid paying a cocoa premium aimed at combating farmer poverty.
FILE PHOTO: A farmer opens a cocoa pod at a cocoa farm in Bobia, Gagnoa, Ivory Coast, December 6, 2019. REUTERS/Thierry Gouegnon/File Photo
In a letter addressed to Hershey and seen by Reuters, the Ivorian and Ghanaian cocoa regulators accuse Hershey of sourcing unusually large volumes of physical cocoa on the ICE futures exchange in order to avoid the premium, known as a living income differential (LID).
By Ange Aboa, Maytaal Angel
3 Min Read
ABIDJAN/LONDON (Reuters) - Ivory Coast and Ghana are cancelling all cocoa sustainability schemes that U.S.-based Hershey runs in their countries, accusing the chocolatemaker of trying to avoid paying a cocoa premium aimed at combating farmer poverty.
FILE PHOTO: A farmer opens a cocoa pod at a cocoa farm in Bobia, Gagnoa, Ivory Coast, December 6, 2019. REUTERS/Thierry Gouegnon/File Photo
In a letter addressed to Hershey and seen by Reuters, the Ivorian and Ghanaian cocoa regulators accuse Hershey of sourcing unusually large volumes of physical cocoa on the ICE futures exchange in order to avoid the premium, known as a living income differential (LID).