Cadbury to put millions into producing more farmers
COCOA: Cadbury seeks to reverse production declines by investing in areas where it gets crop.
According to this report, Cadbury Schweppes PLC plans to spend millions during the next few years to boost cocoa yields and to improve the lives of cocoa farmers,a move intended to guarantee a long-term supply of the most important ingredient in its signature candies. The investment will affect an estimated 1 million cocoa farmers primarily in Ghana, but also in India, Indonesia and the Caribbean, all areas where Cadbury gets cocoa candies.
Research by the University of Sussex in England and funded by the candy maker has shown that the average production for a cocoa farmer has dropped to only 40 percent of potential yield and that cocoa farming has become less attractive to the next potential generation of farmers, according to a statement by the company.
The money Cadbury plans to spend on schools, libraries and wells is intended to attract the next generation to cocoa farming. "In Ghana, there is a phrase 'Coco obatanpa,'which means 'Cocoa is a good parent. It looks after you,'" James Boateng, managing director of Cadbury Ghana, said in a statement. "We hope with this initiative, Cadbury and our partners can be a good parent to cocoa."
In the coming year, Cadbury will invest almost $2 million to establish the cocoa partnership, including $1.2million to build 850 wells, Matt Shattock, one of Cadbury's regional presidents, said at a news conference.