"OPEC For Cocoa": The Ivory Coast and Ghana, Which Produce Over 60% Of The World Cocoa, Join Forces

[loyola llothta]

"OPEC For Cocoa"?The Kings Of Cocoa: The Ivory Coast and Ghana, Which Produce Over 60% Of The World’s Cocoa, Join Forces to Raise The Commodity’s Price, A Move That Will Boost Farmer Incomes, Reduce The Incidence Of Child Labor & Give Farmers a More Equitable Cut of Global Chocolate Profits

Good news if it succeeds: #CotedIvoire and #Ghana plan to work together to raise the world price for #cocoa, the raw material for #chocolate. Producing nations only get 12-13 percent of the eventual price. #GlobalSouth https://on.ft.com/2YjniHi

• Large processors, traders and chocolate companies including Cargill, Olam, Barry Callebaut and Mars have been publicly supportive on the two countries’ move.
• Many big companies involved in the supply chain have sustainability programmes in the two nations while processors have built plants to boost domestic industries

 

[aXiom]

I fukks with this. It can't stop there though. There needs to lead to more like this. The world's been raping the continent for many millennia. Can't take and don't give.

 

[LezJepzin]

Change the game

 

[TELL ME YA CHEESIN FAM?]

 

[Afrodroid]

Africa is so rich in natural resources, what a blessed land



I hope that all that money goes to African hands, not to the colonizers

 

[Samori Toure]

Those countries in West Africa need to work as one big bloc on everything.

 

[loyola llothta]

Aug 2019 8/2019 Update:

The global chocolate industry is valued at $100bn.

Yet only 12% of cocoa farmers make a living wage - that's $2.50 a day.

When Ghana and the Ivory Coast - who account for 19 & 45% of production - demanded higher compensation, the industry refused

http://aje.io/fblc2

 

[KOohbt]

This is actually pathetic. TF they in this situation for in the first place.

 

[ORDER_66]

They should just take over.... fukk these white companies create your own...

 

[jdubnyce]

Finally. Strong arm the industry

 

[Wiseborn]

It's starting to look like it's starting. Meaning there's gonna be a space for Black people not on some c00n shyt. I just hope the energy isn't dissipated like what happened in the 70's and the 90's.

 

[Jammer22]

Aren't they at a natural disadvantage if they don't get in on producing higher-value refined products?

 

[Chrishaune]

$2.50 a day

African countries need to control theirs like every other country....No way poverty should be that prevalent with the resources on the continent.

 

[phcitywarrior]

This is actually pathetic. TF they in this situation for in the first place.

Business and political interests.

Nestle can sell that chocolate bar for $3 because it imports raw cocoa for pennies on the dollar. If the cocoa producing nations start asking for a larger cut of the spoils, then Nestle has to either pass on the cost to the consumer in the form of a price hike (to preserve its margins and possibly lose sales) or it can do some back door politicking with the EU and cocoa standards

Aren't they at a natural disadvantage if they don't get in on producing higher-value refined products?

High value add products is where the money is but processing and industrial capabilities to turn cocoa into chocolate in Africa aren't as robust as in Europe.

 

[Scustin Bieburr]

A lot of these resources need to be nationalized and the profits given to the people and put into infrastructure.

Libya did it with oil and got one of the highest standards of living until them arabs couldnt take being associated with us anymore now the country is on Iraq status

Lot of transnational trade deals been brewing in Africa and it's important that it happens. Look at what that kind of cooperation did to europe. The Euro is a strong currency and countries that had on sight beef for hundreds of years are now on good terms. Europe has literally never been as peaceful since the E.U. started.

Africa needs that too.