Why these two African countries produce 60% of the world’s cocoa but get only 5% of the $100 billion industry


By now, almost everyone knows that Africa supplies most of the raw materials that power the world. In the case of cocoa, just two countries in Africa produce 60% of all of the world’s cocoa beans. Farmers in Ghana and Cote d’Ivoire do the back-breaking work of planting, harvesting, and drying the cocoa beans that bring to chocolate lovers around the world their most prized delicacies.

But according to a recent report by Bloomberg, these farmers make “only about 5.5 per cent of a global supply chain worth more than $100 billion”. This is even less than the 15% governments take as value-added tax on the sale of chocolate products in Western countries where chocolate is most consumed.

To put this in monetary terms, Huffington Post reports that one farmer in Cote…

Read More

*** This news item is 3rd party content and is included strictly for non-commercial informational purposes.

320ro
  • 1
    Share

Comments

comments