• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, October 23, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Hersey’s Sustainability Schemes Suspension lifted

thevaultzby thevaultz
December 9, 2020
Reading Time: 2 mins read
thevaultzby thevaultz
in Agribusiness, Business
0
Hershey’s Sustainability Schemes for Cocoa cancelled

Ivory Coast has opted to lift a suspension imposed last week on cocoa sustainability schemes run by Hershey after the U.S-based chocolate maker committed to paying a premium aimed at combating poverty among farmers.

Ivorian and Ghanaian cocoa regulators on Monday last week suspended the cocoa sustainability schemes run by Hershey, alleging that Hershey was sourcing large volumes of physical cocoa on the ICE futures exchange to avoid paying the Living Income Differential (LID).

Hershey, makers of such popular candy items as Hershey chocolate bars, Hershey’s Kisses and Kit Kat, said it was fully participating in the LID and would continue to do so. Ivorian regulator, the Coffee and Cocoa council (CCC), has held a video meeting with Hershey representatives in which it promised to lift the suspension.

RelatedPosts

Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA

Restoring Water Bodies Remains Priority – Lands Minister

Energy Minister Engages Electrical Contractors on Safety and Regulatory Reform 

The move “follows your definitive commitment to pay the LID”, the spokesperson of the Coffee and Cocoa council said.

“Our sustainability programs complement and strengthen our shared efforts to positively impact cocoa-growing communities,” Hershey said, adding that it recognized the importance of the LID.

The sustainability schemes certify cocoa as sustainably sourced – meaning its production is free of environmental and human rights abuses. This allows companies to market their chocolate as ethical and charge a premium for it.

Ghana’s cocoa industry regulator, COCOBOD, has not yet taken a decision on whether to lift the suspension, a spokesman said. However, it is expected to so shortly. The two countries are collaborating closely in cocoa sales and pricing matters.

ADVERTISEMENT

Ivory Coast and Ghana, which produce two-thirds of the world’s cocoa, introduced a $400 a tonne LID on cocoa sales for the 2020/21 season, but have since struggled to sell their beans as chocolate demand has been hit by the coronavirus crisis.

The commitment by Hershey to abide by the tenets of the LID is being seen by the global cocoa industry as a win for Cote d’Ivoire and Ghana. Expectedly, Mars Wrigley, another major chocolate maker accused by the two countries of trying to evade payment of the LID premium will also quickly pledge its commitment.

Read Also: Hershey’s Sustainability Schemes for Cocoa cancelled

Tags: Hersey
Please login to join discussion
Previous Post

LYDIA FORSON COMMENDS ELECTORATES

Next Post

Rating Outlook for Ghana, others remain negative- Fitch Ratings

Subscription Form

Related Posts

Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA
Business

Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA

October 23, 2025
Restoring Water Bodies Remains Priority – Lands Minister
Extractives/Energy

Restoring Water Bodies Remains Priority – Lands Minister

October 23, 2025
Energy Minister, GECA Collaborate
Extractives/Energy

Energy Minister Engages Electrical Contractors on Safety and Regulatory Reform 

October 23, 2025
NAIMOS Extends Galamsey Operation to Western North and Ashanti Regions
Extractives/Energy

NAIMOS Extends Galamsey Operation to Western North and Ashanti Regions

October 23, 2025
GNPC and SONATRACH Advance Strategic Partnership
Extractives/Energy

GNPC, SONATRACH Forge to Boost Energy Research and Innovation in Africa 

October 23, 2025
Galamsey: Prestea Huni-Valley MCE Laments over Destructions
Extractives/Energy

Galamsey: Prestea Huni-Valley MCE Laments over Destructions

October 23, 2025
Putin’s Failure To Attend Istanbul Talks Decried
Europe

Putin Criticises US Sanctions On Russian Oil Giants

by Comfort AmpomaaOctober 23, 2025
Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA
Business

Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA

by Michael Teye-Bio NaduteyOctober 23, 2025
Brazil's President, Luiz Inacio Lula da Silva.
Around the Globe

Lula To Seek Historic Fourth Term In 2026

by Comfort AmpomaaOctober 23, 2025
MahamaCares Partners Health Professionals for Healthcare Delivery Improvement
General News

MahamaCares Partners Health Professionals for Healthcare Delivery Improvement

by Emmanuel Tibila BoasahOctober 23, 2025
Galamsey Threat Puts Ghana’s Water Security at Breaking Point
General News

Developer’s Encroachment Threatens Kpeve Water Production – GWL

by Silas Kafui AssemOctober 23, 2025
OmniBSIC’s ‘Limitless Banking’ Strategy Breaks Barriers for Persons with Disabilities
Banking

OmniBSIC’s ‘Limitless Banking’ Strategy Breaks Barriers for Persons with Disabilities

by M.COctober 23, 2025
Putin’s Failure To Attend Istanbul Talks Decried
Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA
Brazil's President, Luiz Inacio Lula da Silva.
MahamaCares Partners Health Professionals for Healthcare Delivery Improvement
Galamsey Threat Puts Ghana’s Water Security at Breaking Point
OmniBSIC’s ‘Limitless Banking’ Strategy Breaks Barriers for Persons with Disabilities

Recent News

Putin’s Failure To Attend Istanbul Talks Decried

Putin Criticises US Sanctions On Russian Oil Giants

October 23, 2025
Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA

Swelling Trade Cost, Africa Loses US$5b Annually– AfCFTA

October 23, 2025
Brazil's President, Luiz Inacio Lula da Silva.

Lula To Seek Historic Fourth Term In 2026

October 23, 2025
MahamaCares Partners Health Professionals for Healthcare Delivery Improvement

MahamaCares Partners Health Professionals for Healthcare Delivery Improvement

October 23, 2025
Galamsey Threat Puts Ghana’s Water Security at Breaking Point

Developer’s Encroachment Threatens Kpeve Water Production – GWL

October 23, 2025
OmniBSIC’s ‘Limitless Banking’ Strategy Breaks Barriers for Persons with Disabilities

OmniBSIC’s ‘Limitless Banking’ Strategy Breaks Barriers for Persons with Disabilities

October 23, 2025
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address