Cocoa prices are surging so high that even the biggest chocolate makers are struggling to stay profitable. That doesn’t portend well for your wallet this Valentine’s Day.
The world’s biggest chocolate producers are enjoying large profits while failing to pass on the benefits to cocoa farmers, many of whom are suffering falling incomes and worsening poverty, according to a report from the charity Oxfam. The report was published ahead of World Fair Trade Day on May 13. Falling incomes The analysis focuses…
New EU rules seek to ensure that chocolate is free from deforestation and child labor. Exporters say that can only happen if cocoa farmers earn more money.