Cocoa farmers receive just 3% of the retail price of a chocolate bar, according to Oxfam.
Many cocoa farmers live on less than $1.25 a day, below the threshold of absolute poverty, according to the World Bank.
“If we were to raise the price of a chocolate bar by 3% it would make a difference at farm level but it would not hit the consumers too hard,” said Jean-Marc Anga, executive director of the International Cocoa Organization (ICCO).
Originally published in Confectionery News on July 10, 2014 and updated on May 11, 2017. Read the full article here.