Hershey Signs Agreement with Cocoa Cooperatives Aimed at Improving Farmer Income and Farm Resiliency
Hershey has signed a five-year agreement with nine cocoa-producing cooperatives in Côte d’Ivoire as part of its “Cocoa For Good” strategy, a USD500m initiative aimed at addressing challenges faced by cocoa farmers. The deal seeks to foster long-term relationships with farmers and strengthen supply chain resilience.
Hershey Signs MOU with Sucden and Cooperatives
The memorandum of understanding (MOU), signed by Hershey’s Vice President and Chief Procurement Officer Tricia Brannigan, involves Hershey, Sucden, and the nine cooperatives. The partnership is focused on improving farmer livelihoods by professionalizing cocoa farming, increasing profitability, investing in community resources, and promoting environmental sustainability.
Brannigan emphasized the importance of collaboration in building trust with farmers, noting that strong, long-term relationships are key to addressing challenges faced by the cocoa industry. “Improving farmer incomes requires a holistic approach and collaboration across public and private sectors,” she said.
Supporting Sustainable Cocoa Communities
The agreement was announced during the annual National Cocoa and Chocolate Days in Abidjan, Côte d’Ivoire. It aligns with the country’s National Strategy for Sustainable Cocoa, which aims for a coordinated, long-term approach to overcoming key issues in the cocoa sector.
Hershey’s investment in Côte d’Ivoire goes beyond this partnership. The company has launched a USD40m Income Accelerator program in 2023 and continues to invest in the well-being of farming communities, including the construction of primary schools. These efforts are part of broader collaborations with the Ivorian government and the International Cocoa Initiative to combat child labor and improve community development.
The latest agreement strengthens Hershey’s commitment to creating a sustainable cocoa supply chain while contributing to the economic and social stability of cocoa farming communities.