04/22/2024 | Press release | Distributed by Public on 04/22/2024 04:18
Oxfam experts, together with cocoa farmers, will be at the World Cocoa Conference in Brussels (21-24 April), taking place against a backdrop of unprecedented production shortfalls and skyrocketing cocoa prices, which topped $11,000 per metric ton for the first time.
Chocolate giants have already raised prices for consumers to offset rising cocoa costs and, despite years of soaring profits and massive payouts to shareholders, have consistently pushed back on anything that could reduce their profit margins. New Oxfam analysis has found:
Decades of low prices have made farmers poorer and hampered their ability to hire workers or invest in their farms, limiting bean yield. Old cocoa trees are particularly vulnerable to disease and extreme weather. Many farmers are abandoning cocoa for other crops, or selling their land to illegal miners.
Speaking ahead of the conference, Oxfam's Policy Advisor Bart Van Besien said:
"It's ironic -the cocoa price explosion could have been averted if corporations had paid farmers a fair price and helped them make their farms more resilient to extreme weather. And it's hypocritical -chocolate giants are paying high prices now that the market demands it, but have pushed back every single time that cocoa farmers have. The only way forward is fairly rewarding farmers for their hard work."
And Ismael Pomasi, Chairman of Ghana's Cocoa Abrabopa Association, said:
"Nothing is more demotivating -all my hard work on the farm barely pays off. Between battling pests and the drought that is killing my cocoa trees, I'm really struggling. I wish I could afford irrigation. If the multibillion-dollar chocolate industry paid fair prices for cocoa, I could actually tackle these problems and make a decent living."
Oxfam spokespersons and farmers available for interviews in Brussels:
Key dates:
Oxfam spokespersons and farmers will come together to hand out chocolate produced by Ghana's Women in Cocoa Cooperative (Cocoa Mmaa), and will be available for interviews and photos.
7:30-9:00am CET on 22 April at Place d'Albertine, in front of the World Cocoa Conference.