A new analysis by Oxfam, published on the occasion of World Fair Trade Day (May 13), reveals that the biggest companies in the chocolate industry such as Hershey, Lindt, Mondelēz, and Nestlé rake in huge profits, but do not pay prices that ensure a decent income for Ghanaian cocoa farmers and producers.
According to the report, since the start of the pandemic, growers’ profits have fallen by an average of 16%, reaching almost 22% for women. In fact, 90% do not have access to enough food and other basic necessities such as clothing, housing, or medical assistance.
Oxfam also ensures that Ghana produces around 15% of the total cocoa beans globally. However, it only receives approximately 1.5% (2 billion dollars) of the estimated annual profit from the chocolate industry, which stands at 130 billion dollars.
Taking all this into account, Amitabh Behar, the Association’s interim chief executive, urges the chocolate giants to “apply a significant increase to the cultured prices offered, in addition to mitigating the impact of inflation on the rise in prices.” inputs and agricultural machinery. They must also meet certain minimums, such as providing transparent information on prices and premiums.”