Cocoa producer living income can be increased by gradually introducing large estates in traditionally smallholder areas, says the International Cocoa Organization’s executive director.
Futures exchange company CME Group has made a “strong commitment” in the cocoa market and plans a new contract to rival the IntercontinentalExchange Group (ICE).
The International Cocoa Organization (ICCO) has estimated a cocoa surplus for the current crop year, but said the market would return to a small deficit next year.
Mondelez International, Nestlé, Ferrero and Mars have all signed the Abidjan Cocoa Declaration and pledged to create a sustainable cocoa industry that guarantees a fair deal for farmers.
Major industry players including Mars, Mondelez International and Barry Callebaut are due to appear at the World Cocoa Conference in the Ivory Coast, which gets underway today.
