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CSG CMS Energy Corp

66.00
-1.00 (-1.49%)
29 Nov 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
CMS Energy Corp TG:CSG Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -1.49% 66.00 65.50 66.00 66.00 66.00 66.00 4 17:55:14

Cadbury Announces Historic Partnership to Secure the Future of Cocoa Farming

28/01/2008 4:35pm

PR Newswire (US)


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- Long-term commitment to improving farmer livelihoods and farming communities PARSIPPANY, N.J., Jan. 28 /PRNewswire-FirstCall/ -- Cadbury, the world's leading confectionery company, has announced today the establishment of the Cadbury Cocoa Partnership to secure the economic, social and environmental sustainability of around a million cocoa farmers and their communities in Ghana, India, Indonesia and the Caribbean. This ground-breaking initiative, which will be carried out in partnership with the United Nations Development Programme (UNDP) and other partners, marks 100 years since the Cadbury brothers first began trading in Ghana and aims to holistically support the development of sustainable cocoa growing communities. Research by the University of Sussex and the University of Accra into "Sustainable Cocoa Production in Ghana," funded by Cadbury, showed that the average production for a cocoa farmer has dropped to only 40% of potential yield and that cocoa farming has become less attractive to the next potential generation of farmers. The Cadbury Cocoa Partnership programme aims to address some of the root causes of these issues -- improving farmer productivity and helping to attract the next generation into cocoa farming. The Partnership will therefore focus on: 1. Improving cocoa farmer incomes: by helping farmers increase their yields and produce top quality beans(1) 2. Introducing new sources of rural income: through microfinance and business support to kick start new rural businesses and introduce additional income streams such as growing other crops 3. Investing in community led development: to improve life in cocoa communities e.g. supporting education through schools and libraries, supporting the environment through biodiversity projects, and building wells for clean, safe water(2) 4. Working in partnership: developing a pioneering model which will be led from the grass roots. Farmers, governments, NGOs and international agencies will work together to decide how the funding is spent and work with local organisations to turn plans into action Announcing the partnership, Jim Chambers, President of the Americas Region said: "Sustainable cocoa production is vital to the company's success in our chocolate markets. We need to not only ensure the supply of the most important ingredient for our chocolate products, but also guarantee a reliable, long term source of the right quality cocoa, produced to the high standards our business, customers and our consumers expect." The majority of the Partnership funds (70%) will be invested into small farms and farming villages in Ghana, which provide the cocoa beans for Cadbury's UK chocolate, giving it its unique and much loved taste. Brands using Ghanaian beans include Cadbury Dairy Milk, Wispa, Flake, Creme Egg and Buttons. James Boateng, Managing Director of Cadbury Ghana added: "In the centenary of our relationship with the cocoa farming industry in Ghana, we are incredibly proud to launch the Cadbury Cocoa Partnership in Accra today which we hope will have a lasting impact on the lives of cocoa farmers." "I grew up on a cocoa farm, and owe my education to the prosperity which cocoa brought to my family, and look forward to contributing to the future of cocoa farming. In Ghana there is a phrase 'Coco obatanpa' which means 'Cocoa is a good parent; it looks after you'. We hope with this initiative Cadbury and our partners can be a good parent to cocoa." Welcoming the initiative, UNDP's Resident Representative in Ghana Daouda Toure said: "UNDP strives to promote inclusive, sustainable development, where everyone benefits as a country gets to grips with fighting poverty. Ghana has been producing cocoa for decades now and the industry has certainly gone some way to improving the lives of the Ghanaian people, but with this new public-private partnership approach developed with Cadbury, where both the small producer and the consumer benefit, we hope to show just how effectively sustainable cocoa production can be in generating improved opportunities for local farmers, conserving the environment and building a brighter future for younger generations." Cadbury is initially investing 1m pounds Sterling in 2008 as a seed fund to establish the Cadbury Cocoa Partnership, with annual funding levels rising to a steady rate of 5m pounds Sterling from 2010. Notes to Editor 1. Cadbury recently funded research by the University of Sussex and the University of Accra into "Sustainable Cocoa Production in Ghana" which showed that the production of some cocoa farms is only 4-6 sacks a year. Cadbury is investing in research, tools, education and training to help farmers understand how to get more cocoa from their trees, and to improve the quality of their beans. The research also identified that cocoa farming has become less attractive to the next potential generation of farmers. This programme aims to address some of the root causes of this issue, to attract the next generation into cocoa farming. Most farms are only around 2-3 hectares in size so making best use of the land is vital to maximising income. Crops such as mangoes can benefit from growing beneath cocoa trees, whilst coconuts will help cocoa production by providing beneficial shade. 2. Cadbury will have built over 850 wells at the close of 2008, with each well providing water for around 150-200 people. The company has also donated books and provided support to help a number of communities build libraries and education facilities. In addition, Cadbury's Earthshare programme sends 20-30 colleagues a year to Ghana to participate in scientific research in the field on Cocoa Farming and Biodiversity in Ghana in cooperation with the international environment charity Earthwatch About Ghana Cocoa: Ghanaian cocoa trades at 10% above the global market price due to its consistent high quality compared to other origins. The Ghanaian cocoa industry is regulated by the government's Cocoa Board, which oversees all elements of the cocoa chain from licensing the buying companies that purchase the cocoa from the farmers at a minimum price to controlling the quality of the cocoa that is brought at a set price from the buying companies when it is handed over to the Cocoa Board at the port and marketed on the global market. The closed system helps to avoid farmers being exposed to the variances of the global market and also means that industry does not buy direct from Ghana cocoa farmers. About UNDP: UNDP is the UN's global network to help people meet their development needs and build a better life. We are on the ground in 166 countries, working as a trusted partner with governments, civil society and the private sector to help them build their own solutions to global and national development challenges. Further information can be found at http://www.undp.org/ DATASOURCE: Cadbury CONTACT: Rowan Pearman of Cadbury, 0207 830 5011, ; or Chandrika Deshpande of UNDP, 020 7396 5338, Web site: http://www.cadburyadams.com/ http://www.undp.org/

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