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African Cocoa Giants Seek to Extend New EU Rules Deadline

(Bloomberg) The world’s top cocoa exporters, Ivory Coast and Ghana, are in talks with European officials to push back a proposed deadline that would require all cocoa beans sold to Europe to meet stricter ethical standards. The European Union, which buys about 60% of the top producers’ cocoa, is planning rules that would compel exporters to ensure all their beans are certified as early as 2024 to prove the output didn’t cause deforestation or use child labor. A final vote on the rules is set to take place next year, a European Union spokesman said. Less than 15% of Ivory Coast’s cocoa and only about 12% of Ghana’s output is certified, according to regulators in the nations that together account for about two-thirds of global production of the key chocolate ingredient. “We are in touch with the European Union,” Yves Kone, the managing director of the Ivorian regulator, Conseil du Cafe Cacao, told reporters in Abidjan Wednesday. “We are discussing deadlines,” he said, ....

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