Economy

EU lawmakers call for pact on cocoa prices with Ivory Coast, Ghana

Date: May 10, 2022

A group of European Union (EU) parliamentarians has asked the European Commission to open negotiations with Ivory Coast and Ghana to address low cocoa prices.

Ivory Coast and Ghana, which together produce more than 60% of the world's cocoa, called on the EU earlier this year to join them in creating an economic pact which would ensure cocoa farmers earn a living wage.

Most cocoa farmers in these countries live in extreme poverty, earning well under one US dollar a day.

The EU is the leading destination for Ivorian cocoa, accounting for about 67% of the country's exports.

But a newly proposed EU law could force cocoa traders to drop some suppliers because they use unethical practices.

--Reuters--

 

 

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