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Confectionery giant Hershey has signed a five-year agreement with nine cocoa cooperatives in Côte d'Ivoire, West Africa, as part of its $500m Cocoa For Good strategy to improve cocoa farmer livelihoods.

The ten-year Cocoa For Good strategy aims to address the complex challenges facing cocoa farmers. With this latest agreement, announced to coincide with the annual National Cocoa and Chocolate Days held in Abidjan, Côte d'Ivoire, Hershey aims to build long-term relationships with farmers that can improve their profitability and enable a more resilient supply.

A memorandum of understanding between Hershey, commodities trader Sucden and the nine cocoa producing cooperatives has been signed to help 'professionalise cocoa farming' and provide investment into community-based resources that can improve household wellbeing for farmers, as well as preserving the environment and strengthening farm resilience.

The agreement aligns with Côte d'Ivoire's National Strategy for Sustainable Cocoa, aiming to ensure ‘a coordinated and lasting approach to addressing key challenges within the Ivorian cocoa sector’.

Tricia Brannigan, vice president, chief procurement officer for Hershey, commented: “Improving farmer incomes requires a holistic approach and collaboration across public and private sectors. Collaboration happens best when you have trust. Trust is built over time through strong, long-lasting relationships.”

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Earlier this year, FoodBev Media’s editorial director, Sian Yates, embarked on an expedition to Côte d'Ivoire under the guidance of Olam Food Ingredients’ sustainability team, exploring the unique complexities of the cocoa supply chain. Read more about her journey here.