While the global chocolate industry takes in an estimated $100 billion annually, many of the hundreds of thousands of West African cocoa farmers, who provide most of chocolate’s key ingredient, live in poverty.
This imbalance amounts to a “manifest injustice,” Ghanaian President Nana Addo Dankwa Akufo-Addo said last month.
Now the world’s leading cocoa producers, Ghana and Ivory Coast, are joining in an attempt to raise the commodity’s price, a move government officials say will boost farmer incomes, reduce the incidence of child labor and give West African farmers a more equitable cut of global chocolate profits.
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