Hershey to Invest $10 Million in Ivory Coast
The Hershey Company says it will invest $10 million in Ivory Coast to reduce child labor and improve the cocoa supply in the West African nation.
Spokesman Andy McCormick says the measure will bring higher productivity for farmers and will increase supply to meet the demand of a growing middle class in countries like China and India.
Ivory Coast produces 35 percent of the world's cocoa. Combined with coffee, the cocoa sector accounts for 15 percent of GDP. Cocoa production hit a record 1.48 million tons in 2010 despite a political crisis.
UNICEF estimates 600,000 children work on cocoa farms in Ivory Coast and that 35,000 are victims of trafficking.
McCormick says that Hershey is already trying to address child labor issues, "but we all recognize that more needs to be done."