Mondelez commits $400 million to its cocoa supply chain
Deerfield, Ill. – Mondelez International, owner of Cadbury chocolate, has announced that it will spend $400 million over the next 10 years to ensure the sustainability of its cocoa supply chain.
The company’s “Cocoa Life” program is designed to help improve the life of more than 200,000 cocoa farmers and their communities, and is based on its successful Cadbury Cocoa Partnership in Ghana, India and the Dominican Republic.
“I’m proud of Mondelez International’s $400 million investment in Cocoa Life – a distinctive, holistic approach to cocoa sustainability that will create a cycle of growth from bean to bar,” said Tim Cofer, executive vice-president and president, Europe, in making the announcement in Abidjan, Ivory Coast at the World Cocoa Conference. “Our mission is to create thriving cocoa communities and help secure the future of the cocoa industry.”
Approximately $100 million will be invested in Ivory Coast, the largest cocoa-growing region, where Mondelez says it will help 75,000 farmers double their production.
The program will work with farming communities to help them in different ways: