Hershey to spend $500m to produce sustainable cocoa through its Cocoa for Good programme
New York — Hershey is spending $500m in the hope of producing its iconic chocolate Kisses from more sustainable cocoa. Through its so-called Cocoa for Good programme, the company will invest the funds until the end of 2030 to support four key areas: nourishing children, empowering youth, building prosperous communities, and preserving natural ecosystems. The initiative’s goals include eliminating child labour and increasing shade-grown cocoa, which can be productive for as much as 15 years longer than plants grown in full sun. World cocoa supplies are tightening following a price plunge that hurt farmers globally and forced lower production, eroding a global surplus. The shifting supply outlook caused a whipsaw in the market. Futures in New York have surged 39% this year after tumbling 41% over the prior two. While recent "extreme" price volatility is typical of agricultural commodity markets, "we fully appreciate the complexity of addressing some of the challenges" for grower commu...
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