Over the past several months, senior reporter Gautam Naik has been conducting in-depth research into a global issue than crosses industries and supply chains: forced labor. In the first of three articles and accompanying podcasts, he looks at how this problem has become endemic to the $140 billion chocolate industry and what is being done about it.
Source: AP Photo
More than 2 million children work on cocoa farms in Ghana and Ivory Coast, which together provide about 65% of the world's chocolate. Consumer demand for chocolate is booming, yet the price of cocoa is falling, a discrepancy that adds pressure on West African farmers to put their children to work.
Chocolate companies' measures to address this subject have had little effect so far. But the Netherlands, the biggest importer of cocoa beans in the world, a combination of tougher child labor laws and pressure from financiers, is making progress toward a solution.
Click here read the full article or click on the play button below to listen to the podcast, which includes a firsthand account from Prosper Narteh, who worked on his parents' cocoa farm from the age of 13 but now attends school. And stay tuned for the next story in the series.
Consumer Edge is a weekly collection of critical developments across the automotive; retail; and food, beverage, and tobacco industries. Drawing on exclusive analysis and value-added content from the Consumer News team at S&P Global Market Intelligence, it is published every Thursday. Click here to subscribe.
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