How much money does a cocoa farmer earn from selling the cocoa beans?
The average cocoa farm will produce one or two tonnes of cocoa beans a year; one tonne is 16 sacks of cocoa. The average farmer will make between $1,400-$2,000 profit a year, at most about $5 a day, which will need to support 6-10 dependants.
HOW MUCH DO chocolate farmers make?
The average cocoa farmer earns $. 50-$1.25 USD per day, keeping them impoverished and fueling child labor. While the chocolate industry is worth more than $100 billion dollars (and growing), more than 80 percent of cocoa comes from 7 to 8 million small family farms who can barely afford basic necessities.
How much do cocoa beans sell for?
Between 2016 and 2019, the monthly price of cocoa worldwide peaked in mid-2016 at about 3,122 U.S. dollars per metric ton and has since declined to around 2,134 U.S. dollars per metric ton as of October 2018.
Is cocoa farming a good business?
But not enough of that money is reaching farmers. A recent survey by Fairtrade International found that the average household income of cocoa farmers in West Africa is $2707/year, which is only about a third of what would be considered a livable income.
How much do child cocoa farmers get paid?
According to Fairtrade, the average cocoa farming household in the Ivory Coast is made up of eight people and has an annual income of around $3,000. But Fairtrade’s research concluded the average cocoa farming household should be earning about $7,500 a year to cover their full cost of living.
What is the new cocoa price?
Ghana maintains Cocoa Producer Price at ¢660 per bag for 2021/2022 season. Government has maintained the Cocoa Producer Price of ¢10,560 per metric ton for the new cocoa crop season which takes effect from October 8 2021. Announcing the cocoa producer price, the Minister of Food and Agriculture, Dr.
How much is the cocoa industry worth?
Overall, the United States is the leading world market for confectionery of any kind. The U.S. cocoa & chocolate market is estimated to be worth 9.67 billion U.S. dollars.
How many times can cocoa be harvested in a year?
After cocoa seeds are planted, it usually takes between three and five years to yield the first crop. Cocoa Hybrid varieties however can yield crops within two and three years. Most countries have two periods of peak production per year: A main harvest, and a smaller harvest.