Over 19,000 cocoa farmers have benefitted from ¢6 million disbursed by Cargill through its Licensed Buying Company (LBC), Cargill Kokoo Sourcing Limited.
This is part sustainability premiums for beans bought in the 2018/2019 cocoa season.
This sustainable premium payment is part of farmer-benefits under Cargill’s unique sourcing model.
In a statement released by the company, Samuel Apana, Sustainability Country Lead, Cargill Ghana Limited, said Cargill is closely working with Ghanaian cocoa farmers to implement a sourcing model that brings benefits to the sector.
“We are in our third year of sustainable cocoa sourcing under our sourcing approach which combines new high-tech purchasing with the LBC model of direct sourcing and collaboration with farmers and I am happy to note that it is working well.
“Our gallant farmers have been at the core of this success story and we are working with them on a daily basis to ensure that our sourcing model does not only bring them income but also contributes to sustaining their farms and livelihoods and the sector in general,” Mr Apana remarked.
Cargill’s LBC, which began operating in September 2016, allows the company to directly source cocoa from certified farmers in Ghana. The buying process is fully e-money enabled, allowing Cargill to pay farmers directly by electronic transfer.