EU backs cocoa price rise to make production more sustainable [Reuters]
Mondelez International, Inc. - Class A (MDLZ)
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Source: Reuters
EU backs cocoa price rise to make production more sustainable - Reuters 2 Min Read ABIDJAN (Reuters) - Higher prices are needed to ensure cocoa production becomes more sustainable, a senior European Union official said on Tuesday, backing plans by top growers Ivory Coast and Ghana to levy a “living income differential” on sales. “Ivory Coast and Ghana can count on the EU in their price floor initiative,” Regis Meritan of the trading bloc’s directorate-general for International Cooperation and Development told Reuters on the sidelines of a meeting organized by the International Cocoa Organization (ICCO). The West African neighbors, who together produce two-thirds of the world’s cocoa, imposed a fixed “living income differential” of $400 a tonne in July on all cocoa sales for the 2020/21 season. The move, a bid to ease pervasive farmer poverty, child labor and deforestation, was a major overhaul in how cocoa is priced globally. “This initiative affects the price and we are convinced tha
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MDLZ
Earnings
- 1/30/24 - Beat
MDLZ
Sec Filings
- 4/12/24 - Form PX14A6G
- 4/5/24 - Form DEFA14A
- 4/5/24 - Form DEF
- MDLZ's page on the SEC website