Source: Reuters
08/09/2009
08/09/2009
London, Sept 7 - Lindt and Ferrero SpA are among the backers of a scheme under which chocolate makers pay a premium of $30 a tonne for cocoa with the funds to aid farmers in countries such as Ghana and Ivory Coast.
The new initiative, Source Trust, was officially launched on Monday and could be expanded to involve coffee early next year, Nicko Debenham, head of traceability and sustainability for commodity trader Armajaro told Reuters.
"The voluntary premium for traceable cocoa will be paid into Source Trust which invests in programmes on the ground," Debenham said, adding these included helping tackle malaria by purchasing bed nets for farmers in Ghana.
Debenham said the scheme was complimentary to other ethical programmes, adding some funds would be used for helping farmers achieve certification by Fairtrade or Rainforest Alliance.
Debenham said the scheme had raised about $1 million in its first 12 months and aimed to double that total in the next year.
"I would like to think we have the ability to attract most of the world chocolate makers to participate in some form or another," he said, adding it was unlikely that any company would buy 100 percent of their cocoa through the scheme.
He said the cocoa funds were likely to help farmers in West Africa, Indonesia and Ecuador.
Debenham said a coffee scheme would operate with a similar premium and help farmers in Vietnam, Brazil and Indonesia.
The new initiative, Source Trust, was officially launched on Monday and could be expanded to involve coffee early next year, Nicko Debenham, head of traceability and sustainability for commodity trader Armajaro told Reuters.
"The voluntary premium for traceable cocoa will be paid into Source Trust which invests in programmes on the ground," Debenham said, adding these included helping tackle malaria by purchasing bed nets for farmers in Ghana.
Debenham said the scheme was complimentary to other ethical programmes, adding some funds would be used for helping farmers achieve certification by Fairtrade or Rainforest Alliance.
Debenham said the scheme had raised about $1 million in its first 12 months and aimed to double that total in the next year.
"I would like to think we have the ability to attract most of the world chocolate makers to participate in some form or another," he said, adding it was unlikely that any company would buy 100 percent of their cocoa through the scheme.
He said the cocoa funds were likely to help farmers in West Africa, Indonesia and Ecuador.
Debenham said a coffee scheme would operate with a similar premium and help farmers in Vietnam, Brazil and Indonesia.
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