The Hershey Company recently announced it signed five-year agreements with nine cocoa-producing cooperatives in Côte d’Ivoire and with Sucden, a French soft commodities trader.
The agreements include a memorandum of understanding that aims to preserve the environment and strengthen farm resilience; invest in community-based resources that improve household wellbeing; partner with farmers to professionalize cocoa farming and improve their profitability; and provide stability for farmers and an ability to more directly address challenges.
By building lasting relationships with farmers, Hershey and Sucden enable a more resilient cocoa supply.
The agreements are part of Hershey’s 10-year, $500 million Cocoa For Good strategy to address the challenges cocoa farmers face. They also align with Côte d’Ivoire’s National Strategy for Sustainable Cocoa and coincided with the annual National Cocoa and Chocolate Days held in Abidjan, Côte d’Ivoire.
“Improving farmer incomes requires a holistic approach and collaboration across public and private sectors,” said Tricia Brannigan, Vice President, Chief Procurement Officer for Hershey. “Collaboration happens best when you have trust. Trust is built over time through strong, long-lasting relationships.”
A separate agreement with the International Cocoa Initiative, and the National Oversight Committee for Actions to Fight Child Labor, Trafficking and Exploitation is funding the construction of primary schools in farming communities.