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THINK BEFORE YOU PRINT We’ve designed this document for optimum viewing on screen. Please don’t print it unless you really have to and save precious resources. Market Research for Sustainable Investment With the support of: #1 A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean
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Page 1: Market Research for Sustainable Investment - FAST Research for... · A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean 2 Finance Alliance for Sustainable

A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade1

THINK BEFORE YOU PRINTWe’ve designed this document for optimum viewing on screen. Please don’t print it unless you really have to and save precious resources.

Market Research forSustainable Investment

With the support of:

#1

A Brief Overview of the Sustainable Cocoa Sector in

Latin America and the Caribbean

Page 2: Market Research for Sustainable Investment - FAST Research for... · A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean 2 Finance Alliance for Sustainable

A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade2

About the Finance Alliance for Sustainable Trade

The Finance Alliance for Sustainable Trade (FAST) is an international membership-driven non-

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeX

Contents

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade[

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade5

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade]

e3:*)()A*)'&<C-%(*)(,1.&2#A#(&f(1C.&25(*)-&*)&`;2N&0("G.%&J@."@*.FAfrica dominates the global cocoa production landscape, accounting for approximately 70% of global production3&LAC is the second most important producing region, acounting for 14% of global production3&e%&*-&&.-%*?(%./&%5(%&\7j&#B&'1#,(1&A#A#(&!"#/CA%*#)&A#?.-&B"#?&kX&?*11*#)&-?(115#1/."-9&F5#&5#1/&()&(@."('.&#B&1.--&%5()&X5(&#B&1()/&.(A513

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LAC is a leading producer of sustainable cocoa,& (AA#C)%*)'& B#"& [Tj& #B& '1#,(1&&&&&-C-%(*)(,1.&A#A#(&()/&TRj&#B&%5.&A."%*$./&#"'()*A&A#A#(&!"#/CA./&'1#,(11>[3

Commitments by major confectioners are likely to keep sustainable cocoa order books full. e)&%5.&F(G.&#B&%5.&M#"1/&2#A#(&:#C)/(%*#)K-&())#C)A.?.)%&#B& *%-& m<C-%(*)(,*1*%>& _"*)A*!1.-& ()/& I#(1-K& /C"*)'& VQ& 677\9& %5.& F#"1/K-& 1("'.-%& A5#A#1(%.&&&&&&&&&&&&&&&&A#)B.A%*#)."9&0("-&e)A3&())#C)A./&%5(%&*%&(*?-&%#&-#C"A.&Q77j&#B&*%-&A#A#(&B"#?&-C-%(*)(,1.&!"#/CA."-&,>&676753&W."-5.>]9&b"(B%&:##/-8&()/&H.-%1UT&(1-#&5(@.&-C-%(*)(,1.&A#A#(P-#C"A*)'&!"#'"(?-&#B&@(">*)'&/.'"..-9&F5*A5&-5#C1/&G..!&!"#/CA."-&#B&-C-%(*)(,1.&A#A#(&,C->&*)&%5.&?./*C?&%#&1#)'&%."?3

?#/&@$'"#$A.B)*)-(*$C#1&+,)-$(*2$D-&(2./$(/#$'"/##$-.&*'/)#%$'.$5('-"$8./$%&%'()*(+,#$1/.2&-').*$3.)*3$ 8./5(/23=5.&g#?*)*A()&a.!C,1*A& *-&#).&#B& %5.&1("'.-%&!"#/CA."-&#B&-C-%(*)(,1.&A#A#(&'1#,(11>9&F*%5&#@."&R7j&?("G.%&-5(".&*)&%5.&!"#/CA%*#)&#B&&J"'()*A&A#A#(\9&6Rj&?("G.%&-5(".&*)&%5.&!"#/CA%*#)&#B&:(*"%"(/.&A#A#(Q79&()/&Q[j&?("G.%&-5(".&*)&%5.&!"#/CA%*#)&#B&S=l&2."%*$./&A#A#(113&

Qn=5.&<%(%.&#B&<C-%(*)(,*1*%>&e)*%*(%*@.-&a.@*.F&67Q7o9&!!&\R9&ee<g9&67Q76&2(1AC1(%*#)-&,(-./&#)&/(%(&B"#?&%5.&="#!*A(1&2#??#/*%>&2#(1*%*#)K-&67Q7&2#A#(&Y("#?.%."9&S=l&2."%*$./&67QQ&;))C(1&a.!#"%9&:;J<%(%&#B&%5.&:;J&()/="(/.<%(%&#B&%5.&e=23&=5.-.&$'C".-&(/LC-%&B#"&?C1%*!1.&A."%*$A(%*#)-&C-*)'&(&B(A%#"&#B&73TR3X&2(1AC1(%*#)&?(/.&%(G.)&(-&(&".B.".)A.&%5(%&'1#,(1&.^!#"%&@#1C?.&#B&A#A#(&*)&67Q7&F(-&X97Q79T8X&?.%"*A&%#).-9&e=2P="(/.&0(!&*)&5%%!NppFFF3%"(/.?(!3#"'p2#C)%">q<.1_"#/CA%q=<3(-!^1

[&ng*-.r#&/.&1(&.-%"(%.'*(&/.&?.L#"(?*.)%#&/.&1(&A(/.)(&/.&@(1#"&n9&&_./"#&a(?s".+9&;-.-#"&IelR&5%%!NppFFF3?("-3A#?p'1#,(1p(,#C%P?("-p?("-P!*(p#C"P-C!!1>PA5(*)pA#A#(3(-!^]&5%%!NppFFF3!").F-F*".3A#?p).F-P".1.(-.-p5."-5.>PF*11P#BB."PA."%*$./PA5#A#1(%.PB#11#F*)'PA#)-C?."P/"*@.)PA(?!(*')PQXT[88QT[35%?18&5%%!Npp!5^3A#"!#"(%.P*"3).%p!5#.)*^3+5%?1tAuQ6\787v!u*"#1P).F-;"%*A1.veguQX[T[[Qv5*'51*'5%uT&5%%!NppFFF3A#"!#"(%.3).-%1.3A(p.)p2".(%*)'<5("./f(1C.p2(-.<%C/*.-p_('.-p=5.2#A#(_1()3(-!^\&67Q7&$'C".9&ng*-.r#&/.&1(&.-%"(%.'*(&/.&?.L#"(?*.)%#&/.&1(&A(/.)(&/.&@(1#"o9&&_./"#&a(?s".+9&;-.-#"&IelQ7&677T&$'C".9&n=5.&<%(%.&#B&<C-%(*)(,*1*%>&e)*%*(%*@.-&a.@*.F&67Q7o9&!!&Q779&ee<g9&67Q7QQ&67Q7pQQ&$'C".9&n67QQ&S=l&<C!!1>&()/&g.?()/&S!/(%.o9&S=l&2."%*$./9&67QQ

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade8

`.(/*)'&2#A#(&_"#/CA*)'&2#C)%"*.-&,>&f#1C?.&*)67Q7&D?.%"*A&%#).-E

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India Q69X77

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?../$(--#%%$'.$4*(*-#$/#1/#%#*'%$.*#$.8$'"#$B.%'$%)3*)4-(*'$+(//)#/%$'.$'"#$3/.5'"$.8$%&%'()*(+,#$1/.2&-').*$)*$'"#$E(')*$FB#/)-(*$/#3).*3&;1%5#C'5&?("G.%& %".)/-& AC"".)%1>& B(@#"& -C-%(*)(,1>& !"#/CA./& A#A#(9& (AA#C)%*)'& B#"& [36&j&#B& '1#,(1&A#A#(&.^!#"%-&*)&67Q79&#)1>&R3Rj&#B&'1#,(1&A#A#(&F(-&-C-%(*)(,1>&!"#/CA./&*)&67Q73&`(AG&#B&*)@.-%?.)%&*)&%5.&-.A%#"&5(-&A".(%./&(&?(L#"&A#)-%"(*)%&*)&*%-&.^!()-*#)9&F5*A5&*-&(''"(@(%./&,>&(&A>A1.&#B&$)()A*(1&*)-%(,*1*%>&#B&A#A#(&!"#/CA."-&()/&F.(G&$)()A*(1&()/&(AA#C)%*)'&?()('.?.)%&!"(A%*A.-3&e)-CB$A*.)%&(AA.--&%#&$)()A.&?(*)%(*)-&-C,#!%*?(1&[email protected]&#B&!"#/CA%*@*%>9&!".@.)%*)'&,C-*).--&/[email protected]#!?.)%&()/&?("G.%&'"#F%53

G)3&/#$H>$E#(2)*3$I.-.($?/.2&-)*3$I.&*'/)#%$+6$9.,&B#$ <B#'/)-$ '.*#%=@$2010 13

Source: Elaborated using data retrieved from FAOStat

_."C&(1-#&5(-&&-*')*$A()%&!"#/CA%*#)&#B&J"'()*A&A#A#(9&()/&F5*1.&4AC(/#"&*-&AC"".)%1>&(&?*)*?(1&!1(>."&*)&%5*-&&&?("G.%9&*%&5(-&1#)'&.-%(,1*-5./&*%-.1B&(-&(&-!.A*(1*-%&*)&-C!!1>*)'&)*A5.&n$).&A#A#(o&?("G.%-&DF*%5&RTj&#B&'1#,(1&?("G.%&-5(".&B#"&$).&()/&("#?(%*A&A#A#(12E3&<C-%(*)(,1.&A#A#(&".!".-.)%-&(&G.>&-%"(%.'*A&&?("G.%&B#"&`(%*)&;?."*A()&A#A#(&!"#/CA."-&?#@*)'&B#"F("/3

Q6&nY".@.&/.-A"*!A*x)&/.&1(&A(/.)(&/.&A#A#(&n9&!!&69&_./"#&a(?s".+9&;-.-#"&IelQX&W*'51*'5%./&A#C)%"*.-&5(/&!"#/CA%*#)&@#1C?.-&#B&#@."&Q79777?%&*)&67Q7

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeT

ee3&<C-%(*)(,1.&2#A#(&0("G.%-N&`;2K-&a#1.&*)&%5.&I1#,(1&<C-%(*)(,1.&2#A#(&4A#)#?>

M5*1.&%5.&'1#,(1&@#1C?.&#B&A#)@.)%*#)(1&A#A#(&.^!#"%-&5(-&/.A".(-./&,>&Q7j&#@."&%5.&1(-%-.@.)&>.("-9&/.?()/&B#"&-C-%(*)(,1.&A#A#(&5(-&-G>"#AG.%./&F*%5&.^!#"%&yC()%*%*.-&5*%%*)'&(&X8j&2#?!#C)/&;))C(1&I"#F%5&a(%.&D2;IaE&B"#?&677XP67Q7Q[3&M.&.^!.A%&%5*-&'"#F%5&*)&-C-%(*)(,1.&-#C"A*)'&%#&A#)%*)C.&(-&?(L#"&A#)B.A%*#)."-&()/&'"*)/."-&*)A".(-.&!("%*A*!(%*#)&*)& -C-%(*)(,*1*%>& *)*%*(%*@.-3&0(L#"&f<e-& %5(%& 5(@.& .?."'./&F*%5*)& %5.& A#A#(& -.A%#"& *)A1C/.N&a(*)B#".-%&;11*()A.&Da;E9&:(*"%"(/.&e)%.")(%*#)(1&D:`JE9&%5.&e)%.")(%*#)(1&:./."(%*#)&#B&J"'()*A&;'"*AC1%C".&0#@.?.)%&De:J;0E&()/&S=l&2."%*$./3

g*-%*)'C*-5*)'& yC(1*%*.-& #B& %5.& B#C"& ?#-%& *?!#"%()%& A."%*B>*)'& ,#/*.-& *)A1C/.N

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z&G()/'/(2#$;*'#/*(').*(,>&:(*"%"(/.&-%()/("/-9&-.%&,>&:(*"%"(/.&`(,.1*)'&J"'()*+(%*#)-e)%.")(%*#)(1& ()/& A."%*$./& ,>& :`JP24a=9& 5(@.& %5.& /*-%*)A%*@.& A5("(A%."*-%*A& #B& .)-C"*)'& ('C("()%../& :(*"%"(/.& ?*)*?C?& !"*A.& B#"& !"#/CA."-& ()/& (& !"*A.& !".?*C?3& :#"& *)-%()A.9*B& %5.& *)%.")(%*#)(1& ?("G.%& !"*A.& *-& (,#@.& %5.& :(*"%"(/.& ?*)*?C?9& (& !".?*C?& (,#@.& %5.AC"".)%&?("G.%&!"*A.&*-&(//./9&F5*A5&*-&%#&,.&C-./&B#"&-#A*(19&.A#)#?*A&()/&.)@*"#)?.)%(1/[email protected]#!?.)%3&;-&#B&677T9&"#C'51>&6pX&#B&:(*"%"(/.K-&(A%*@*%*.-&%##G&!1(A.& *)&;B"*A(9&F*%5&%5.remainder in Latin AmericaQ]3

z&J!K$I#/')4#2>&_"*?("*1>&(&A."%*$A(%*#)&B#"&-C-%(*)(,1>P'"#F)&A#BB..9&S=l&5(-&".A.)%1>DJA%#,."&6778E&?#@./&*)%#&A#A#(&(-&F.113&&;-&#B&67Q79&QRj&#B&S=l&A."%*$./&A#A#(&A(?.&B"#?%5.&g#?*)*A()&a.!C,1*A&()/&_."CQ83

Q[&2(1AC1(%./&B"#?&/(%(&".%"*.@./&B"#?&e)%.")(%*#)(1&="(/.&2.)%."&De=2EQR&_."-#)(1&A#??C)*A(%*#)&F*%5&4"*A&<."@(%9&B"#?&a(*)B#".-%&;11*()A.Q]&&n=5.&<%(%.&#B&<C-%(*)(,*1*%>&e)*%*(%*@.-&a.@*.F&67Q7o9&!!&Q7Q9&ee<g9&67Q7&Q8&S=l&67QQ&;))C(1&a.!#"%QT&ee<g&67Q7Q\&&ng*-.r#&/.&1(&.-%"(%.'*(&/.&?.L#"(?*.)%#&/.&1(&A(/.)(&/.&@(1#"o9&_./"#&a(?s".+9&;-.-#"&Iel

z$ ;GLFM>$J"'()*A& A."%*$A(%*#)& A()& ,.& A(""*./& #C%& ,>& 5C)/"./-& #B& %5*"/P!("%>& !"*@(%.#"'()*+(%*#)-& F#"1/F*/.3& e:J;0& F#"G-& %#& A."%*B>& *)/*@*/C(1& *)-%*%C%*#)-& %#& .)-C".& ()*)%.")(%*#)(1&#"'()*A&-%()/("/& *-&(%%(*)./3&J"'()*A&A."%*$./&A#A#(& *-&%5.&?#-%&C,*yC*%#C-1>.^!#"%./& #B& %5.& B#C"& -%()/("/-& #)& (& '1#,(1& -A(1.QT3&;-& #B& 67Q79& TRj& #B& A."%*$./& #"'()*AA#A#(&F(-&!"*?("*1>&!"#/CA./&*)&`;2&A#C)%"*.-9&)#%(,1>&%5.&g#?*)*A()&a.!C,1*A9&_."C&()/4AC(/#"Q\3

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade\

M5*1.&%5.&'1#,(1&@#1C?.&#B&A#)@.)%*#)(1&A#A#(&.^!#"%-&5(-&/.A".(-./&,>&Q7j&#@."&%5.&1(-%&-.@.)&>.("-9&/.?()/&B#"&-C-%(*)(,1.&A#A#(&5(-&-G>"#AG.%./&F*%5&.^!#"%&yC()%*%*.-&5*%%*)'&(&X8j&2#?!#C)/&;))C(1&

I"#F%5&a(%.&D2;IaE&B"#?&677XP67Q73

Source: Tropical Commodity Coalition (TCC) 2010 Cocoa Barometer; UTZ Annual Reports 2010-2011; Personal

communication with Eric Cervat, Rainforest Alliance (June 2012).

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Fairtrade Organic Rainforest Alliance UTZ

Volu

me

(MT)

2009 Production 2010 Production 2011 Production

Production Growth CAGR Fairtrade: 23% Organic: 113% Rainforest Alliance: 219% UTZ: 530%

Sustainable Cocoa Production Volumes by Certification Body, 2009-2011

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeQ7

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z& <*?*1("& %#& a(*)B#".-%&;11*()A.K-& -#C"A*)'& '#(1-9& :.""."#& I"#C!& (*?-& %#& -#C"A.& Q77j& #B*%-&A#A#(&B"#?&-C-%(*)(,1.&-#C"A.-&,>&6767&(-&F.11213

z& b"(B%& :##/-& 5(-& A#??*%%./& %#& -#C"A*)'& X79777?%& #B& *%-& A#A#(& B"#?& a(*)B#".-%;11*()A.& A."%*$./& !"#/CA."-& *)& 67Q6223& =5*-& F#C1/& ".!".-.)%& ()& *)A".(-.& #B& Q7& %*?.-%5.&677\&[email protected]

67&5%%!NppFFF3?("-3A#?p'1#,(1p(,#C%P?("-p?("-P!*(p#C"P-C!!1>PA5(*)pA#A#(3(-!^6Q&5%%!NppFFF3B.""."#3A(p-#A*(1P".-!#)-*,*1*%>p677\P67Q7p66&5%%!Npp!5^3A#"!#"(%.P*"3).%p!5#.)*^3+5%?1tAuQ6\787v!u*"#1P).F-;"%*A1.veguQX[T[[Qv5*'51*'5%u6X&5%%!NppFFF3!").F-F*".3A#?p).F-P".1.(-.-p5."-5.>PF*11P#BB."PA."%*$./PA5#A#1(%.PB#11#F*)'PA#)-C?."P/"*@.)PA(?!(*')PQXT[88QT[35%?1

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade11

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GF','9#(7I#J"<K7+%L<+(8%M%/B"N+O9<%0@%

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0AOA)8%/8'",K%!@%-@7"Q#+C1%

D4%

R<9(<=%E'9(<+O%-SA"K7C1%D4%

57<T<%G'%-U#B#+1%24%

0",'"%@"'AB%-0"O7+V+#1%

24%

G)3&/#$S>$NOHH$I.*8#-').*#/T%$M(/U#'$:"(/#$+6$V#'$I.*8#-').*(/6$:(,#%24

b"(B%& :##/-9& F5*A5& #F)-&A#)B.A%*#)."-& 2(/,C">& ()/&H(,*-A#& A#)B.A%*#)."& F*%5&(1?#-%& S<{67& ,*11*#)& *)&A#)B.A%*#)(">&-(1.-&*)&67QQ3

0("-&e)A39&H.-%1.9&:.""."#&I"#C!&()/&W."-5.>& :##/&2#"!& B#11#F&as part of the top 5 cocoa

A#)B.A%*#)."-&,>&-(1.-&@(1C.&F*%5&kS<{Q]& ,*11*#)& kS<{QX& ,*11*#)&kS<{Q7& ,*11*#)& ()/& kS<{]&,*11*#)&*)&).%&A#)B.A%*#)(">&-(1.-&".-!.A%*@.1>&*)&67QQ3

A"4-3$%&BCC1&DB0#$-0+#/"0+6&C"3"+&1-2+0/?+#/"0E

G)3&/#$W>$R/.5'"$C('#$X$I.-.($?/.2&-').*$25

Source: FAST, FAO

6[&5%%!NppFFF3*AA#3#"'p(,#C%pA5#A#1(%.3(-!^25 Calculations made from data retrieved from FAOStat

6]&2(1AC1(%./&(-&RRj&#B&.-%*?(%./&!"#/CA%*#)&@#1C?.-68&n=5.&<%(%.&#B&<C-%(*)(,*1*%>&e)*%*(%*@.-&a.@*.F&67Q7o&!!&\R9&ee<g9&67Q7

e)&%5.&-.@.)&>.("-&,.%F..)&677X&()/&67Q79&-C-%(*)(,1.&A#A#(&.^!#"%-&5(@.&'"#F)&(%&(&'"#F%5&(%&(&X8j&2;Ia9&".(A5*)'&kQ689777?%&*)&67Q76]9&C!&B"#?&kQX9777?%&*)&677X683&e)&A#)%"(-%9&'1#,(1&.^!#"%-&B"#?&Q\\7&%#&67Q7&5(@.&()&(@."('.&2;Ia&#B&63]j9&-C''.-%*)'&%5(%&%5.".&*-&-*')*$A()%1>&?#".&"##?&B#"&`;2&!"#/CA."-&%#&,.).$%&B"#?&-C-%(*)(,1.&?("G.%-3

-40%

-20%

0%

20%

40%

60%

80%

100%

1990 1991

1992 1993

1994 1995

1996 1997

1998 1999

2000 2001

2002 2003

2004 2005

2006 2007

2008 2009

World Africa Latin America Central Caribbean South America

CAGRs: World: 2.6% Central America: -1.3% Africa: 3.0% Caribbean: 0.8% LatAm: 0.3% South America: 0.4%

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4^!#"%&'"#F%5&F.(G&*)&A#)@.)%*#)(1&-.A%#"9&,C%&-C-%(*)(,1.&&&?("G.%-&5(@.&-5#F)&?(--*@.&'"#F%5

<C-%(*)(,1.&A#A#(&A()&A#??()/&-*')*$A()%&!"*A.&!".?*C?-&D@(">*)'&,>&A."%*$A(%*#)9&A#C)%">&()/&5("@.-%*)'&>.("E9&F5*A5&?(>&*?!(A%&%5.&#@."(11&.^!#"%&@(1C.-&(%&%5.&)(%*#)(1&()/&".'*#)(1&levels6T& D:*'C".& RE3& `;2K-& 1.(/."-5*!& *)& %5.& -C!!1>& #B& -C-%(*)(,1.& A#A#(& 5(-& 5(/& *?!#"%()%&*?!1*A(%*#)-& B#"& `;2K-& #@."(11& .^!#"%& @(1C.& ,.A(C-.& %5.& 5*'5& !".?*C?-& (--#A*(%./& F*%5&A."%*$./&A#A#(&,##-%&`;2K-&(''".'(%.&A#A#(&.^!#"%&@(1C.3&=5.&'"#F%5&"(%.&#B&`;2K-&A#A#(&.^!#"%&@(1C.&5(-&#C%!(A./&%5(%&#B&;B"*A(9&()/&%5.&F#"1/9&*)&B#C"&#B&%5.&1(-%&$@.&>.("-&#)&".A#"/9&5*%%*)'&RRj&'"#F%5&*)&677\&D:*'C".&]E3&;!!.)/*^&e&!"#@*/.-&(&'.)."*A&#@."@*.F&#B&%5.&A#A#(&?("G.%&!"*A.&%".)/-&#@."&%5.&1(-%&%F.)%>&>.("-3

6T&2(1AC1(%*#)-&?(/.&B"#?&/(%(&A#?!*1./&,>&ee<g&*)&*%-&67Q7&<<e9&(-&F.11&(-&/(%(&B"#?&:;J<%(%

G)3&/#$Y>$Z#(/$.7#/$Z#(/$D01./'$9(,&#$R/.5'"$C('#%@$HPPHQNOOP

Source: FAST, FAO

G)3&/#$[>$Z#(/$.7#/$Z#(/$?/.2&-').*$\&(*')'6$R/.5'"$C('#%@$HPPHQNOOP

Source: FAST, FAO

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

1991 1992

1993 1994

1995 1996

1997 1998

1999 2000

2001 2002

2003 2004

2005 2006

2007 2008

2009

World Africa Latin America

-40%

-20%

0%

20%

40%

60%

1991 1992

1993 1994

1995 1996

1997 1998

1999 2000

2001 2002

2003 2004

2005 2006

2007 2008

2009

World Africa Latin America

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeQX

eee3&<C-%(*)(,1.&2#A#(&0("G.%-&*)&`;2N&H(%*#)(1&Trends and Opportunities

=#%(1& `;2&A#A#(&!"#/CA%*#)& *)& 67Q7&F(-&]779777?%3&=5.&67Q7&!"#/CA%*#)& [email protected]& (".& %5.".-C1%& #B& (& k67j& *)A".(-.& *)& !"#/CA%*#)&#@."& %5.& 1(-%& /.A(/.3&=5.& ".A.)%& %".)/& *)& A#A#(!"#/CA%*#)& '"#F%5& *-& *)& !("%& (& ".-!#)-.& %#& ()&#@."(11& *)A".(-.& *)& /.?()/& B#"& A#A#(9& ,C%(1-#&".!".-.)%-&()&*)A".(-.&*)&?("G.%-&B#"&-C-%(*)(,1.&()/&-!.A*(1%>&A#A#(-9&B#"&F5*A5&`;25(-& ,..)& (& /#?*)()%& -C!!1*."3& Y"(+*1& 5(-& 1#-%& *%-& !#-*%*#)& (-& %5.& ".'*#)K-& ?#-%& /#?*)()%-C!!1*."&#B&A#A#(&/C.&%#&()&*)A".(-.&*)&)*A5.&!"#/CA%&?("G.%-3&e)&B(A%9&Y"(+*1&!"#/CA./&]7j#B&`;2&A#A#(& *)& %5.&Q\T7K-9&,C%&#)1>&(AA#C)%& B#"&[7j&#B&!"#/CA%*#)& %#/(>3&4AC(/#"9&_."C()/&%5.&g#?*)*A()&a.!C,1*A&5(@.&(11&.^!()/./&%5.*"&-5(".&#B&%5.&A#A#(&!"#/CA%*#)&?("G.%3D:*'C".&8E6\3

G)3&/#$]>$!.'(,$EFI$?/.2&-').*$<B'=$7%^$C#3).*(,$M(/U#'$:"(/#@$HP_OQNOHO

`;2K-&A#A#(&!"#/CA%*#)&C!&#@."&%5.&1(-%&/.A(/.&(B%."&(&&&&&&&&&&&&&&&&&&&&&&&&&-%.(/>pF.(G.)*)'&?("G.%&/C"*)'&%5.&!".@*#C-&67&>.("-

6\&2(1AC1(%*#)-&,(-./&#)&/(%(&".%"*.@./&B"#?&:;J<%(%

Source: FAST, FAO

Y"(+*19&4AC(/#"9&_."C&()/&%5.&g#?*)*A()&a.!C,1*A&D()/&%#&(&1.--."&.^%.)%&2#1#?,*(E&(".&̀ ;2K-&1("'.-%&A#A#(&!"#/CA."-9&()/&!"#/CA./&T]j&#B&%5.&.)%*".&".'*#)-&A#A#(&!"#/CA%&*)&67Q73&M*%5&%5.&?#-%&/[email protected]#!./&A#A#(&-C!!1>&A5(*)-&#)&%5.&A#)%*).)%9&%5.-.&`(%*)&;?."*A()&A#C)%"*.-&(".&G)#F)&B#"&%5.*"&5*'5PyC(1*%>&A"*#11#&A#A#(&,.()-&D(-&#!!#-./&%#&M.-%&;B"*A(K-&!"#/CA%*#)&#B&,C1G&B#"(-%."#&,.()-E3&<..&;!!.)/*^&ee&B#"&()&#@."@*.F&#B&A#A#(&,.()&@("*.%*.-&()/&;!!.)/*^&eee&B#"&BC"%5."&*)B#"?(%*#)&#)&%5.&!"#/CA%*#)&A>A1.&()/&A5(*)&-%('.-.

-40%

-20%

0%

20%

40%

60%

80%

100%

1990 1991

1992 1993

1994 1995

1996 1997

1998 1999

2000 2001

2002 2003

2004 2005

2006 2007

2008 2009

World Africa Latin America Central Caribbean South America

CAGRs: World: 2.6% Central America: -1.3% Africa: 3.0% Caribbean: 0.8% LatAm: 0.3% South America: 0.4%

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeQ[

M5*1.&̀ ;2K-&A#A#(&.^!#"%&@(1C.-&5(@.&-5#F)&A#)-*-%.)%&'"#F%5&#@."&%5.&!(-%&/.A(/.9&?("G.%&.^!()-*#)&5(-&,..)&A#)-%"(*)./&,>&(&)C?,."&#B&".?./*(,1.&B(A%#"-&%5(%&%.)/&%#&!1('C.&`;2K-&A#A#(&!"#/CA."-3&<#?.&G.>&*--C.-&5(@.&,..)&,"#(/1>&-C??("*+./&*)&:*'C".&T9&F5*1.&Y#^&Q&*)A1C/.-&(&<MJ=&()(1>-*-&#B&%5.&`;2&m-&-C-%(*)(,1.&A#A#(&-.A%#"3

2#C)%"*.-&F*%5&%5.&?#-%&/[email protected]#!./&-C!!1>&A5(*)-&F*11&,.&%5.&?#-%&probable to transition to sustainable production practices

G)3&/#$_>$;%%&#%$F88#-')*3$?/.2&-').*$(*2$M(/U#'$D01(*%).*

=5.&B#11#F*)'&*--C.-&5(@.&!."-*-%./&*)&-.@."(1&'.#'"(!5*A&(".(-9&5#F.@."&.(A5&!"#/CA*)'&A#C)%">&5(-&,..)&(BB.A%./&/*BB.".)%1>3& :*)()A*(1& *)-%(,*1*%>&#B& <04-9& 1#F&!"#/CA%*#)& ()/&!"#/CA%*@*%>&[email protected]&()/&F.(G&$)()A*(1&()/&(AA#C)%*)'&?()('.?.)%&!"(A%*A.-&%.)/&%#&,.&%5.&"##%&A(C-.&#B&?()>&#B&%5.&*--C.-&(BB.A%*)'&`(%*)&;?."*A(K-&!"#/CA*)'&".'*#)-3

g.%(*1-& #B& %5.& -!.A*$A&?("G.%& .)@*"#)?.)%9& -C!!1>& A5(*)& ()/& $)()A*)'& -*%C(%*#)-& B#"& .(A5&*)/*@*/C(1&A#C)%">&5(@.&,..)&#C%1*)./&*)&%5.&).^%&-.A%*#)3

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade15

`.0$H>$:aL!$F*(,6%)%>$EFIT%$:&%'()*(+,#$I.-.($:#-'./

<=a4HI=W<

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z&=5.&?(L#"&A#)B.A%*#)."-&&(".&&-#C"A*)'&-C-%(*)(,1.&cocoa beans from LAC and are committed to

.^!()/&%5.*"&@#1C?.-&*)&%5.&A#?*)'&>.("-z&4AC(/#"9&_."C9&ga&()/&%#&(&1.--."&.^%.)%&2#-%(&a*A(N&<C!!1>&A5(*)-&F.11&/[email protected]#!./&F*%5&".A.)%&&'"#F%5&*)&export levels

M4;bH4<<4<

z& <.A%#"& 1(AG-& -5#"%& ()/& 1#)'& %."?& $)()A*)'& B#"&?("G.%& '"#F%59& *)A".(-.& !"#/CA%*#)& @#1C?.-9&!"#/CA%*@*%>&()/&yC(1*%>&*?!"#@.?.)%3z&0("G.%&%"()-!(".)A>z&e)B#"?(%*#)&(->?.%"*.-N&1#A(1&$)()A*(1&*)-%*%C%*#)-&(".&#B%.)%*?.-&C)*)B#"?./&(,#C%&%5.&&?("G.%&-.A%#"&!#%.)%*(1&()/&!."B#"?()A.9&-!.A*(11>&B#"&&-C-%(*)(,1.&cocoa value chains

z& :*)()A*(1& 1*%."(A>N& !"#/CA."-|& #"'()*+(%*#)-& 5(@.&1("'.1>&F.(G&$)()A*(1&()/&(AA#C)%*)'&?()('.?.)%&practices

z& e)B#"?(1*%>& #B& & -(1.-& A#)%"(A%-& (1#)'& %5.& -C!!1>&chain

J__Ja=SHe=e4<

z&<C-%(*)(,1.&?("G.%&!#*-./&B#"&.)#"?#C-&'"#F%59&AC"".)%1>&(&B"(A%*#)&#B&%#%(1&?("G.%z&0("G.%& '"#F%5& &#!.)-& C!& & %5.&#!!#"%C)*%>& B#"&A(!*%(1& O#F& (-& AC"".)%& A#)/*%*#)-& "./CA.-& "*-G&perception

z&0()>&!"#/CA."-&(".&(1".(/>&(!!1>*)'&-C-%(*)(,1.&!"(A%*A.-9&,C%&LC-%&1(AG*)'&A."%*$A(%*#)z&;/#!%*#)&#B& A1*?(%.&?*%*'(%*#)& -%"(%.'*.-& *)& %5.&!"#/CA%*#)&A>A1.&(1#)'&%5.&&-C!!1>&A5(*)

=Wa4;=<

z& H(%C"(1& /*-(-%."-N& A1*?(%.& A5()'.& *?!(A%-& *)&!"#/CA%*#)&&()/&yC(1*%>&[email protected]&2#A#(&?("G.%&-#?.%*?.-&-CBB."-&B"#?&F*1/&!"*A.&OCA%C(%*#)-z& g.!.)/.)A>& #)& H#"%5.")& ?("G.%-& ()/& %5.*"&!."B#"?()A.9&-%*11&)(%*#)(1&()/&".'*#)(1&A#)-C?!%*#)&[email protected]&(".&)#%&%5(%&5*'5&%#&/"*@.&%5.&?("G.%

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2C"".)%&0("G.%&4AC(/#"&AC"".)%1>&5#1/-&kRTj&#B&'1#,(1&?("G.%&-5(".&B#"&$).&A#A#(9&'.)."(11>&!"#/CA./&B"#?&%5.&A#C)%">K-&)(A*#)(1&A#A#(&@("*.%>3&e)&%5.&!(-%&/.A(/.9&!"#/CA%*#)&@#1C?.-&5(@.&,..)&,##-%./&,>&!#-*%*@.&?("G.%&'"#F%5&#B&%5.&A#C)%">K-&)*A5.&A#A#(&!"#/CA%-}&/("G&()/&$).&A5#A#1(%.-3&0("G.%&%".)/-&5(@.&,..)&!#-*%*@.&B#"&/("G&A5#A#1(%.9&F5*A5&5(-&G)#F)&5.(1%5&,.).$%-& ()/& *-& @*.F./&,>&?()>& (-& (&?#".& 1C^C"*#C-&#!%*#)& %5()& *%-& 1*'5%."& A#C-*)3&=5.&/.?()/& B#"&4AC(/#"*()& A#A#(& *-& *)A".(-*)'& (%& (& !(A.& B(-%."& %5()&)(%*#)(1& !"#/CA%*#)&[email protected]&=5.".&*-&(&-*')*$A()%&#!!#"%C)*%>&B#"&'"#F%5&*)&".'*#)(1&A#A#(&!"#/CA%*#)&*)&4AC(/#"&*B&%5.&"*'5%&A(!(A*%>&,C*1/*)'&()/&*)@.-%?.)%&-%"(%.'*.-&(".&C-./3&<%"#)'."&A#??."A*(1*+(%*#)&-%"(%.'*.-& F*11& (1-#& ,.& ".yC*"./& %#& BC11>& ,.).$%& B"#?& AC"".)%& ?("G.%& #!!#"%C)*%*.-3

;3&42S;gJa

<C!!1>& 25(*)& ()/& 0("G.%-&=5.& -C!!1>& A5(*)& *)& 4AC(/#"& *-& ".1(%*@.1>& F.11& /[email protected]#!./& *)4AC(/#"3&a.'C1("&AC-%#?."-&DF5.%5."&A##!."(%*@.-9&%"(/."-&#"&.^!#"%."-E&'.)."(11>&).'#%*(%.!C"A5(-.& yC()%*%*.-& F.11& *)& (/@()A.3& =5.".& (".& -.@."(1& ".!#"%./& A(-.-& #B& ?./*C?p1#)'%."?-&A#)%"(A%-&%5(%&(".&AC"".)%1>&,.*)'&).'#%*(%./&F*%5&?(L#"&*)%.")(%*#)(1&A#A#(&!1(>."-3JB& (!!"#^*?(%.1>& Q779777& !"#/CA*)'& B(?*1*.-& *)& %5.& A#C)%">9& "#C'51>& Q\j& (".& ?.?,."-#B& A##!."(%*@.-3&=5.-.& A##!."(%*@.-& '.)."(11>& -.11& %#& #).& #B& %5.& XT& .^!#"%*)'&?.?,."-X7

#B&;H42;2;J&D;-#A*(A*x)&H(A*#)(1&/.&4^!#"%(/#".-&/.&2(A(#EXQ9&#"&/*".A%1>&%#&(&?(L#"?()CB(A%C"."&#"&'"*)/."&D2("'*119&H.-%1.9&Y("">&2(11.,(C%9&.%A3E3e)/*@*/C(1&!"#/CA."-9&#"&%5#-.&F5#&(".&)#%&?.?,."-&#B&()>&A##!."(%*@.9&'.)."(11>&-.11&%#&1#A(1&%"(/."-3&e)&%5*-&A(-.9&%5.&!"#/CA%&?(>&!(--&%5"#C'5&C!&%#&.*'5%&/*BB.".)%&%"(/."-&,.B#".&".(A5*)'&(&?.?,."&#B&;H42;2;J3

;AA#"/*)'&%#&#"'()*+(%*#)-&*)@#1@./&*)&4AC(/#"K-&A#A#(&?("G.%9&(!!"#^*?(%.1>&QRj&%#&67j&#B&%5.&A#A#(&!"#/CA./&*)&4AC(/#"&*-&A."%*$./&C)/."&#).&#"&?#".&#B&%5.&B#C"&?(*)&f<eK-N&J"'()*A&2."%*$A(%*#)9&:(*"&="(/.9&S=l&2."%*$./9&()/&a(*)B#".-%&;11*()A.&%#&(&1.--."&.^%.)%3

4AC(/#"&*-&%5.&F#"1/&1.(/."&*)&!"#/CA%*#)&#B&&$).&()/&("#?(%*A&A#A#(

X7&;&BC11&1*-%&#B&;H42;2;JK-&?.?,."-&A()&,.&B#C)/&#)&%5.*"&F.,!('.N&5%%!NppFFF3().A#A#(3A#?p*)/.^3!5!p.-p-#A*#-P/.P().A#A#(35%?1XQ&`.(/*)'&.^!#"%*)'&A#?!()*.-&#B&;H42;2;J&(".N&="()-?("&2#??#/*%>&I"#C!&#B&4AC(/#"&<3;39&;"?(L("#)&4AC(/#"9&4AC(/#"&2#A#(&v&2#BB..&4AC(A#BB..&<3;39&e??#,*1*("*(&IC()'(1(&<3;3&:#"&?#".&*)B#"?(%*#)9&!1.(-.9&(AA.--&;H42;2;J&F.,-*%.N&FFF3().A(A(#3#"'

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeQ8

:*)()A*)'& g*-AC--*#)-& F*%5& -%(G.5#1/."-& B#C)/& %5(%& %5.& F#"G*)'& A(!*%(1& ()/& #%5."& !".P$)()A*)'&)../-&#B&!"#/CA."-&(".&?#-%1>&5()/1./&/*".A%1>&,>&!C"A5(-."-3&2##!."(%*@.-&#B%.)&5(@.&/*B$AC1%>&#,%(*)*)'&%5.&!".$)()A*)'&).././&%#&!C"A5(-.&!".@*#C-1>&).'#%*(%./&(?#C)%-&#B& & & A#A#(3& &;AA.--& %#& %"(/.&$)()A*)'& *-&#).&#B& %5.&,*''.-%& A5(11.)'.-& *)&4AC(/#"K-& A#A#(&-C!!1>& A5(*)3& `*?*%./& (AA.--& %#& %"(/.& ()/& *)B"(-%"CA%C".& $)()A.& 5(-& ".-C1%./& *)& "./CA./&#@."(11&!"#/CA%*@*%>&()/&".!".-.)%-&(&-*')*$A()%&#,-%(A1.&%#&BC11>& 1.@."('*)'&AC"".)%&?("G.%&#!!#"%C)*%*.-3

4AC(/#".()& A#A#(& <04-& (".& A5("(A%."*+./& ,>& 1#F& $^./& (--.%-& ()/& (& 5.(@>& ".1*()A.& #)&A#)%"(A%-&(-&A#11(%."(1&B#"&$)()A*)'9&F5*A5&%>!*A(11>&*)A".(-.-&%5.&(@."('.&*)%.".-%&"(%.-&%5(%&?C-%&,.&!(*/3&e)-CB$A*.)%&/#AC?.)%(%*#)&#B&$)()A*(1&".A#"/-&()/&F.(G&$)()A*(1&()/&(AA#C)%*)'&?()('.?.)%&!"(A%*A.-&(".&(1-#&".!#"%./&(-&,.*)'&(?#)'&%5.&,*''.-%&5*)/"()A.-&%#&(AA.--*)'&$)()A.&,>&4AC(/#"*()&!"#/CA."-3

`.0$N>$A#4*)').*$.8$b#6$G)*(*-)(,$!#/B%

M#"G*)'&A(!*%(1N&=5.&(?#C)%&#B&A(!*%(1&".yC*"./&%#&A("">&#)&(&,C-*).--9&B#"&*)-%()A.9&%#&5*".&.?!1#>..-&#"&-.(-#)(1&F#"GB#"A.}&%#&!C"A5(-.&*)!C%-&()/&%#&A#@."&$^./&A#-%3

="(/.& $)()A.N =5.& $)()A*(1& %"()-(A%*#)-& ()/& A(!*%(1& ".yC*".?.)%-& *)@#1@./& *)& $)()A*)'&*)%.")(%*#)(1&%"(/.&D.^!#"%-&()/&*?!#"%-E3

e)B"(-%"CA%C".&$)()A.N&=5.&(?#C)%&#B&A(!*%(1&".yC*"./&%#&*)@.-%&*)&@(1C.&(//./&()/&-%"(%.'*A&A#?!.%*%*@.&(/@()%('.&B#"&%5.&,C-*).--}&B#"&*)-%()A.9&%#&*)@.-%&*)&!5>-*A(1&(--.%-9&.yC*!?.)%9&,C-*).--& /[email protected]#!?.)%& ()/&?("G.%& '"#F%5&!"#A.--.-3& e%& *-& )#"?(11>& ".1(%./& %#& 1#)'P%."?&$)()A.9&F5*A5&*-&.^%.)/./&%#&(&%."?&#B&'".(%."&%5()&(&>.("3

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeQT

Y3&_4aS

_"#/CA%*#)&%".)/-&?#@*)'&B"#?&,C1G&%#&$).&A#A#(&!"#/CA%*#)

_."C&*-&(1-#&)#%(,1.&B#"&%5.*"&".1(%*@.1>&-?(11&,C%&(A%*@.&%"()-B#"?(%*#)&*)/C-%">3&̀ (&2##!."(%*@(&e)/C-%"*(1&/.&H("()L*11#9&B#"&.^(?!1.9&#F)-&.yC*!?.)%&%#&%"()-B#"?&A#A#(&,.()-&*)%#&A#A#(&!#F/."&()/&1*yC#"9&F5*A5&(".&,#%5&@(1C.P(//./&!"#/CA%-3&_C,1*A&()/&!"*@(%.&#"'()*+(%*#)-&(".&F#"G*)'&%#&!"#?#%.&()&*)A".(-.&*)&)(%*#)(1&A#)-C?!%*#)&#B&A5#A#1(%.9&(-&(&A#".&/"*@."&B#"&/[email protected]#!*)'&@(1C.P(//./&1#A(1&-C!!1>&A5(*)-&()/&*)A".(-*)'&?("G.%&-5(".3

<C!!1>&25(*)&()/&0("G.%-&a#C'51>&X7j&%#&[7j&#B&_."CK-&67P669777&!"#/CA."-&(".&#"'()*+./&*)%#&A##!."(%*@.-3&=5.&".?(*)*)'&]7j&%#&87j&#B&!"#/CA."-&-.11&%5.*"&!"#/CA%&%#&1#A(1&%"(/."-9&F5#&%5.)&-.11&%#&1("'.&*)%.")(%*#)(1&.^!#"%."-3&=5.&?("G.%&-5(".&#B&G.>&.^!#"%."-&*-&-5#F)&*)&:*'C".&\3

JB&%5.&!"#/CA."-&F5#&(".&#"'()*+./&*)%#&A##!."(%*@.-9&"#C'51>&]7j&,.1#)'&%#&%5.&;-#A*(A*x)&_."C()(&/.&_"#/CA%#".-&/.&2(A(#&D;__2;2;JE3&&;__2;2;J&*-&#).&#B&%5.&1.(/*)'&*)-%*%C%*#)-&F#"G*)'&%#&*?!"#@.&%5.&[email protected]&#B&#"'()*+(%*#)&()/&1.(/."-5*!&#B&A##!."(%*@.-&*)&%5.&A#C)%">9&(-&F.11&(-&!"#?#%*)'&,C-*).--&()/&!"#/CA%&yC(1*%>&/[email protected]#!?.)%&-."@*A.-&%#&%5.*"&(B$1*(%.-3

X6&e)%.")(%*#)(1&="(/.&2.)%."&De=2E&h="(/.&0(!N&5%%!NppFFF3%"(/.?(!3#"'

2C"".)%&0("G.%& _."C& *-& %5.& -.A#)/& 1("'.-%& !"#/CA."& #B& A."%*$./& A#A#(& *)& `(%*)&;?."*A(9&F*%5& ()& ())C(1& .^!#"%& @(1C.& #B& RQj& #B& `(%*)&;?."*A()& A#A#(& .^!#"%-& B"#?& 6778P67QQX63&&=5.&_."C@*()&A#A#(&?("G.%&5(-&%"(/*%*#)(11>&!"#/CA./&(&".1(%*@.1>&1#FPA#-%9&,C1GPC-.&A#A#(&,.()9&.-!.A*(11>&-*)A.&%5.&*)%"#/CA%*#)&#B&%5.&5*'5P>*.1/*)'&5>,"*/&?#/*$./&AARQ&@("*.%>3&<*)A.&?("G.%&%".)/-&AC"".)%1>&B(@#"&5*'5&yC(1*%>&()/&-C-%(*)(,1>&!"#/CA./&A#A#(9&!"#/CA."-&5(@.&()&*)A.)%*@.&%#&!"#/CA.&$).&("#?(%*A&A#A#(&,.()-&C-*)'&%"(/*%*#)(1&A"*#11#&@("*.%*.-9&F5*A5&F*11&.@.)%C(11>&*?!"#@.&%5.&'.).%*A&/*@."-*%>&#B&%5.&A#A#(&*)&%5.&".'*#)3&_."C@*()&!"#/CA%*#)&#B&-C-%(*)(,1.&A#A#(&5(-&(1-#&*)A".(-./&-*')*$A()%1>&#@."&%5.&!(-%&/.A(/.3&J"'()*A9&:`J&()/&S=l&A."%*$./&!"#/CA%*#)&(".&%5.&?#-%&!"#?*).)%&-C-%(*)(,*1*%>&*)*%*(%*@.-&*)&%5.&A#C)%">3

2."%*$./&!"#/CA%*#)&AC"".)%1>&(AA#C)%-&B#"&(!!"#^*?(%.1>&67j&#B&%5.&)(%*#)K-&%#%(1&!"#/CA%*#)&@#1C?.3&=5.&*?!"#@*)'&?("G.%&!#-*%*#)&#B&_."CK-&A#A#(&!"#/CA%*#)&()/&.^!#"%9&%#'.%5."&F*%5&(&)(%*#)(1&'#(1&%#& *?!"#@.&yC(1*%>9&".!".-.)%& *?!#"%()%&%(A%*A-& *)&%5.&.BB#"%&%#&(%%"(A%&).F&*)@.-%?.)%&*)&-C-%(*)(,1.&A#A#(&@(1C.&A5(*)-3

=5.&AARQ&@("*.%>&*-&AC"".)%1>&?#-%&!".-.)%&*)&%5.&<()&0("%*)&/.!("%?.)%&#B&_."C9&F5.".&%5.&5*'5.-%& @#1C?.-&#B& A#A#(& (".&!"#/CA./3&=5*-& ".'*#)& *-& (1-#&5#?.& %#&!"#/CA."-& B"#?& %F#&#B& %5.& 1("'.-%&A##!."(%*@.-& *)& %5.&A#C)%">9&)#%(,1>& %5#-.&#B&`(&2##!."(%*@(&;'"#*)/C-%"*(1&=#A(A5.&()/&`(&2##!."(%*@(&e)/C-%"*(1&/.&H("()L*11#3

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeQ\

COOPERATIVA AGRARIA

CACAOTERA ACOPAGRO

15%

SUMAQAO SOCIEDAD ANONIMA CERRADA

15%

AMAZONAS TRADING PERU

S.A.C. 12%

COOPERATIVA AGRARIA

INDUSTRIAL NARANJILLO

11%

COOP AGRARIA

CAFETALERA EL QUINACHO

L 78 6%

COMPAÑIA NACIONAL DE CHOCOLATES DE PERU S.A.

5%

Other Exporters 36%

H#%F*%5-%()/*)'& %5.& F#"G& #B&;__2;2;J9& _."CK-& A#A#(& ?("G.%9& 1*G.& %5(%& #B& 4AC(/#"9& *-&5*)/."./&,>&(&".1(%*@.1>& 1#F& [email protected]&#B&!"#/CA."&#"'()*+(%*#)3&41.@(%./&A#A#(&!"*A.-& %.)/& %#&.)A#C"('.& B"('?.)%(%*#)&#B& 1("'."&#"'()*+(%*#)-9& ".-C1%*)'& *)&()& *)A".(-.& *)& %5.&)C?,."&#B&-?(11."&<04-&#!."(%*)'&*)/.!.)/.)%1>3&;-&(&".-C1%9&#)1>&(&B.F&<04-&(".&1("'.&.)#C'5&%#&.^!#"%&/*".A%1>&%#&?C1%*)(%*#)(1&'"*)/."-&()/&?()CB(A%C"."-9&-CA5&(-&_aJH;=429&;?(+#)(-&="(/*)'9&Y("">&2(11.,#C%&()/&H.-%1U3&=5*-&B"('?.)%(%*#)&%".)/&".-C1%-&*)&*).B$A*.)A*.-&()/&(//*%*#)(1&%"()-(A%*#)&A#-%-&%5"#C'5#C%&%5.&-C!!1>&A5(*)9&F5*A5&C1%*?(%.1>&"./CA.-&!#%.)%*(1&".@.)C.-&B#"&!"#/CA."-3

:*)()A*)'&&;AA.--&%#&$)()A.&".?(*)-&(&-*')*$A()%&-#C"A.&#B&B"C-%"(%*#)&(?#)'&_."C@*()&A#A#(&!"#/CA."-3&e%&*-&.-%*?(%./&%5(%&"#C'51>&]7j&#B&!"#/CA."-&*)&_."C&5(@.&(AA.--&%#&-#?.&-#"%&#B&%"(/.&$)()A.9&F5*1.&%5.&".?(*)*)'&[7j&C-.&%5.*"&#F)&BC)/*)'3&=5.&A#A#(&-.A%#"&*-&-."@./&,>& )(%*#)(1& ,()G-& ()/& -#A*(11>& #"*.)%./& $)()A*(1& *)-%*%C%*#)-& %5(%& !"*?("*1>& *)@.-%& *)& -5#"%&%."?&%"(/.&$)()A.3&g.-!*%.&%5.&!".-.)A.&#B&%5.-.&$)()A*(1&-."@*A.-9&&%5.&$)()A*)'&)../&B#"&?()>&-%*11&".?(*)-&C)BC1$11./3&="(/.&()/&*)B"(-%"CA%C".&$)()A.&(".&.^%".?.1>&/*B$AC1%&%#&-.AC".&(?#)'&.^*-%*)'&!"#@*/."-&()/&".!".-.)%-&(&G.>&*)@.-%?.)%&,(""*."&*)&.^!()/*)'&_."CK-&?("G.%&!#-*%*#)&*)&-C-%(*)(,1.&A#A#(&?("G.%-3&

G)3&/#$P>$M(/U#'$:"(/#$.8$?#/&7)(*$D01./'#/%@$NOHOQNOHH$I.-.($:#(%.*

Source: Sistema Integrado de Información de Mercado Exterior de Perú (SIIC)

The Peruvian cocoa

.^!#"%&?("G.%&*-&?CA5&?#".&B"('?.)%./&%5()&%5(%&#B&%5.&g#?*)*A()&a.!C,1*A3& H#& m#).K&exporter has more

%5()& QRj& ?("G.%&-5(".9& ()/& %5.".& (".&#@."& R7& .^!#"%."-& *)&%#%(13

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade67

2C"".)%& 0("G.%&=5.& g#?*)*A()& a.!C,1*A& DgaE& !"#/CA./& 6Rj& #B& :(*"%"(/.K-& 677T& A#A#(&!"#/CA%*#)9&R6j&#B& e:J;0K-&67Q7&#"'()*A&A."%*$./&!"#/CA%*#)&()/&Q[j&#B&S=l&2."%*$./&!"#/CA%*#)&*)&67Q7XX3&;-&%5.&1("'.-%&`;2&-C!!1*."&#B&A."%*$./&A#A#(9&%5.&ga&*-&(1-#&#).&#B&%5.&,*''.-%&!"#/CA."-&#B&A."%*$./&-C-%(*)(,1.&A#A#(&*)&%5.&F#"1/3&gC.&%#&%5.*"&F.11P/[email protected]#!./&-C!!1>&A5(*)&()/&.-%(,1*-5./&-C-%(*)(,1.&!"#/CA."-9&%5.&g#?*)*A()&a.!C,1*A&*-&F.11&!#-*%*#)./&%#&?(*)%(*)&%5.*"&-%(%C-&(-&%5.&F#"1/&1.(/."&*)&-C-%(*)(,1.&A#A#(&!"#/CA%*#)3

=5.&g#?*)*A()&a.!C,1*A&*-&#).&#B&%5.&,*''.-%&!"#/CA."-&#B&A."%*$./&cocoa in the world

<C!!1>&25(*)& ()/&0("G.%-&=5.&.^!#"%&?("G.%& *)& %5.&g#?*)*A()&a.!C,1*A& *-& A#?!#-./&#B&".1(%*@.1>& B.F& !1(>."-3&;!!"#^*?(%.1>& $@.& ,"#G."-pA##!-& A#?!"*-.& %5.& ,C1G& #B& %5.& .^!#"%&?("G.%&D25#A#1(%.&2#"%U-9&0C))U&v&2#39&2($.-(9&25#A#1(%.&;)%*11()#&()/&2JH;2;gJE3&M.&.-%*?(%.&%5(%&"#C'51>&]7j&#B&(11&ga&!"#/CA."-&,.1#)'&%#&(&!"#/CA."&A##!."(%*@.&#"&<043&0#-%&<04-&*)&%5.&ga&.^!#"%&%5.*"&!"#/CA%&/*".A%1>3&=5.&".?(*)*)'&[7j&#B&*)/*@*/C(1&!"#/CA."-&-.11&%5.*"&!"#/CA%&%5"#C'5&1#A(1&%"(/."-9&F5#&%5.)&-.11&%#&1("'.&*)%.")(%*#)(1&.^!#"%."-3

:*)()A*)'&=5.&!"*?(">&A5(11.)'.&%5(%&ga&!"#/CA."-&B(A.&*-&%5.*"&1(AG&#B&$^./&(--.%-9&F5*A5&F#C1/&!#%.)%*(11>&-."@.&(-&A#11(%."(1&*)&-.AC"*)'&".(-#)(,1.&*)%.".-%&"(%.-&()/&1#)'."&%."?&1#()-3&_"#/CA."-&*)&%5.&ga&)../&1#)'."&%."?&1#()-&*)&#"/."&%#&,.&(,1.&%#&*)@.-%&*)&*)B"(-%"CA%C".&/[email protected]#!?.)%9&!"#/CA%&/*@."-*$A(%*#)&()/&@(1C.&(//./&!"#/CA%&'.)."(%*#)3&;AA#"/*)'&%#&:;<=&A#"".-!#)/.)A.&F*%5& A#A#(&A##!."(%*@.&2JH;2;gJ9& B#"&.^(?!1.9& %5.&#"'()*+(%*#)&5(-&#)1>&,..)&(,1.&%#&*)@.-%&(&?.".&S<{6&?*11*#)&*)&!1()%-&()/&?(A5*).">&#@."&%5.&1(-%&%5"..&>.("-9&(-&(&".-C1%&#B&/*B$AC1%>&*)&#,%(*)*)'&1#)'P%."?&()/&?./*C?P%."?&$)()A*)'3&&

`*G.&4AC(/#"9&1#F&@(1C./&$^./&(--.%-&(1#)'&F*%5&1(AG*)'&$)()A*(1&/#AC?.)%(%*#)&A".(%.&*--C.-&B#"&!"#/CA."-&-..G*)'&$)()A*)'

2JH;2;gJ& (1-#& !#*)%./& #C%& %5(%& %5.*"& ?.?,."-& #B%.)& (AA.--& $)()A*)'& B"#?& B#".*')&*)-%*%C%*#)-& *)A1C/*)'& -#A*(1& 1.)/."-& -CA5& (-& a##%& 2(!*%(1& ()/& J*G#A"./*%3&=5*-& $)()A.& *-&%>!*A(11>&C-./&B#"&F#"G*)'&A(!*%(1&".yC*".?.)%-3&=5.&?CA5&).././&?./*C?&()/&1#)'."&%."?&*)@.-%?.)%&".yC*".?.)%-&D'.)."(11>&C-./&B#"& B."?.)%(%*#)&%##1-9&/">*)'&.yC*!?.)%&()/&%5.&?(A5*).">& %#& A".(%.& @(1C.& (//./& !"#/CA%-E& ".?(*)& C)/."-."@*A./3& &M5*1.& -(1.-& A#)%"(A%&'C("()%..-&(".&#B%.)&C-./&(-&A#11(%."(1&B#"&A."%(*)&F#"G*)'&A(!*%(1&1#()-9&%5.&4C"#+#).&A"*-*-&5(-&1./&%#&(&"./CA%*#)&*)&-(1.-&D()/&%5C-&%5.&-*+.&#B&%5.-.&A#)%"(A%-E9&F5*A5&*)&%C")&5(-&"./CA./&%5.&!#%.)%*(1&1#()&(?#C)%-&%5(%&&!"#/CA."&#"'()*+(%*#)-&F#C1/&(AA.--&%#&BC1$11&%5.*"&F#"G*)'&A(!*%(1&)../-&B#"&5("@.-%3&

23&gJ0eHe2;H&a4_SY`e2

XX&g(%(&".%"*.@./&B"#?N&ng*-.r#&/.&1(&.-%"(%.'*(&/.&?.L#"(?*.)%#&/.&1(&A(/.)(&/.&@(1#"o9&&_./"#&a(?s".+9&;-.-#"&Iel&9&&n=5.&<%(%.&#B&<C-%(*)(,*1*%>&e)*%*(%*@.-&a.@*.F&67Q7o&!!&Q779&ee<g9&67Q79&()/&n&67QQ&<C!!1>&()/&g.?()/&S!/(%.o9&S%+&2."%*$./9&67QQ

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade21

G)3&/#$HO>$ILVFIFALT%$L/3(*)c(').*(,$:'/&-'&/#

Source: CONACADO

`.0$S>$ILVFIFAL>$($E#(2)*3$?,(6#/$)*$:&%'()*(+,#$I.-.(

=5.&g#?*)*A()&a.!C,1*AK-&1("'.-%&()/&?#-%&*?!#"%()%&!1(>."&*)&%5.&-C-%(*)(,1.&A#A#(&?("G.%3

2JH;2;gJ& .^!#"%-& k6Rj& #B& %5.& A#C)%">K-& A#A#(3&;AA#"/*)'& %#& :`J9& (,#C%& TRj& #B&2JH;2;gJK-&A#A#(&*-&A."%*$./&#"'()*A9&()/&"#C'51>&R7j&#B&*%-&!"#/CA%&*-&-#1/&#)&%5.&:(*"%"(/.&?("G.%3&;AA#"/*)'& %#& :;<=& A#"".-!#)/.)A.&F*%5&2JH;2;gJ9& (-& #B&;C'C-%&67QQ9&%5.&A##!."(%*@.&5(/&\96\]&!"#/CA."-&#B&F5*A5&T9T66&Dk\RjE&F.".&A."%*$./&-C-%(*)(,1.3&=5*-& *-& *)&(&A#C)%">&F5.".&,.%F..)&R7&()/&]7j&#B&(11&A#A#(&!"#/CA."-&(".&A."%*$./&(-&n-C-%(*)(,1.o&C)/."&#).&#"&?#".&%5.&?(L#"&'1#,(1&*)*%*(%*@.-3

=5.& A##!."(%*@.K-& #"'()*+(%*#)(1& -%"CA%C".& *-& A#?!#-./& #B& (& A.)%"(1& '#@.")()A.& ,#/>&F*%5&)*).&".'*#)(1&n,1#AG-o3&=5.&".'*#)(1&n,1#AG-o&(".&A#?!#-./&#B&QR7&(--#A*(%*#)-&%5(%&.)A#?!(--&*%-&#@."&\9777&!"#/CA."-3

~&\9777&_"#/CA."-

152 Local Associations

&\&a.'*#)(1&Y1#AG-

2JH;2;gJ

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade22

2C"".)%&0("G.%&The criollo& ,.()& #"*'*)(%./& *)& 2.)%"(1&;?."*A(3&=5.& !#%.)%*(1& B#"& '"#F%5*)&!"#/CA%*#)&()/&-(1.-&#B&%5*-&5*'5&yC(1*%>&,.()&1*.-&!"./#?*)()%1>& *)&0.^*A#&()/&2.)%"(1;?."*A(3&;&!"..^*-%*)'&*)B"(-%"CA%C".&B#"&)*A5.&A#A#(&?("G.%-&?(G.-&2.)%"(1&;?."*A(&()/&%5.2("*,,.()&%5.&F#"1/K-&1.(/*)'&".'*#)&B#"&#"'()*A&()/&-C-%(*)(,1.&A#A#(&#C%!C%9&(-&?.(-C"./,>&!"#!#"%*#)&#B&%#%(1&#C%!C%3&M.&5(@.&.-%*?(%./&%5(%&*)&A#C)%"*.-&-CA5&(-&2#-%(&a*A(&()/%5.&g#?*)*A()&a.!C,1*A9&kTRj&()/&k8Rj&#B&%#%(1&#C%!C%&*-&#"'()*A&#"&-C-%(*)(,1>&A."%*$./9".-!.A%*@.1>3&;).A/#%(1& .@*/.)A.& -C''.-%-& %5(%& (& -*+(,1.& !"#!#"%*#)& #B& %5.& ".?(*)*)'& )#)PA."%*$./&!"#/CA."-&(".&*)&B(A%&#!."(%*)'&-C-%(*)(,1>9&,C%&1(AG&%5.&$)()A*)'&).././&%#&!C"-C.A."%*$A(%*#)3& W*'5& [email protected]& #B& 1#A(1& A#)-C?!%*#)& #B& A5#A#1(%.& *)& IC(%.?(1(& (1-#& /"*@.& %5.".'*#)K-&!"#/CA%*#)&[email protected]

<C!!1>&25(*)&I*@.)&%5.&".1(%*@.1>&-?(11&!"#!#"%*#)&#B&'1#,(1&A#A#(&.^!#"%-&%5(%&A#?.&#C%#B&2.)%"(1&;?."*A(9& %5.&-C!!1>&A5(*)-&#B& %5.-.&A#C)%"*.-&(".& 1.--&/[email protected]#!./&%5()&%5#-.&#B#%5."&1("'."&!1(>."-&*)&`;2&D4AC(/#"9&g#?*)*A()&a.!C,1*A9&()/&_."CE3

2.)%"(1&;?."*A()& A#A#(& -C!!1>& A5(*)-& (".& A5("(A%."*+./& ,>& %5"..& ?(*)& ,#%%1.).AG-N& DQE!"#/CA%*#)& >*.1/-& ()/& @#1C?.-& %5(%& (".& -C,-%()%*(11>& ,.1#F& %5.*"& !#%.)%*(19& D6E& .^*-%*)'".1(%*#)-5*!-& ,.%F..)& !("%*A*!()%-& *)& %5.& -C!!1>& A5(*)& D!"#/CA."-9& %"(/."-9& ,"#G."-9.^!#"%."-9&'"*)/."-9&.%A3E&(".&yC*%.&F.(G9&()/&DXE&A#)%"(A%-&(".&#B%.)&).'#%*(%./&#)&(&-5#"%P%."?&,(-*-3&=5.&?(*)&/"*@."-&,.5*)/& %5.& 1#F&!"#/CA%*#)& [email protected]& *)&2.)%"(1&;?."*A(& *)A1C/.(&!"#!.)-*%>& B#"&5C""*A().-& ()/&(/@."-.&F.(%5."&A#)/*%*#)-9& (-&F.11& (-& (& 1(AG&#B&$)()A*)'#!%*#)-&(1#)'&%5.&@(1C.&A5(*)3

e%& -5#C1/& ,.& )#%./& %5(%&2#-%(& a*A(& 5(-& %5.&?#-%& /[email protected]#!./& -C!!1>& A5(*)& #B& ()>&2.)%"(1;?."*A()& A#C)%">9& ".-C1%*)'& *)&?#".& -.AC".& BC%C".& A(-5& O#F-& %5()& ).*'5,#"*)'& A#C)%"*.-32#-%(& a*A(& (1-#& 5(-& -#?.& #B& %5.& 5*'5.-%& >*.1/*)'& !"#/CA."-& *)& %5.& ".'*#)3

:*)()A*)'&I*@.)& %5.&F.(G& ".1(%*#)-5*!& ,.%F..)&?.?,."-& #B& %5.& -C!!1>& A5(*)9& $)()A*)'& *-&?#-%1>& '"()%./& #)& (& !."P5("@.-%& ,(-*-9&F*%5&F#"G*)'& A(!*%(1& )../-& A#@."./& ,>& %"(/."-& #"&*)/.!.)/.)%&$)()A*(1&*)-%*%C%*#)-&D*)A1C/*)'&%5.&1*G.-&#B&_"#>.A%#&2(?,*#9&a##%&2(!*%(19&.%A3E3&=5.&1(AG&#B&$)()A*)'&*-&(&A#)%"*,C%#"&%#&!##"&>*.1/-9&(-&A"#!&"#%(%*#)&!"(A%*A.-&()/&.yC*!?.)%&?#/.")*+(%*#)-&?C-%& ,.& -.1BP$)()A./9&F5*A5& *-& #B%.)& *?!#--*,1.& B#"& !"#/CA."-3& _"#/CA."-&#"'()*+(%*#)-&(".&'.)."(11>&-%*11&*)&%5.*"&/[email protected]#!?.)%&!5(-.9&F5*A5&A#)-%"(*)-&%5.*"&(,*1*%>&%#&(AA.--&".'C1("&()/&-C-%(*)(,1.&$)()A.3

;& 1*?*%./& !C,1*A& (F(".).--& #B& %5.& !#%.)%*(1& .A#)#?*A9& .)@*"#)?.)%(1& ()/& -#A*(1& ,.).$%-&#B&-C-%(*)(,1.p)*A5.&A#A#(&!"#/CA%*#)&(-&()&*)%.'"(1&('"#P->-%.?&(!!.("-&%#&,.&#).&#B&%5.&'".(%.-%&5*)/"()A.-&%#&$)()A*)'&*)&%5*-&".'*#)&B"#?&%5.&-C!!1>&-*/.3&

g3&24H=a;`&;04ae2;

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=5.&$)()A*)'&#B&-C-%(*)(,1.&A#A#(&@(1C.&A5(*)-&5(-&%5.&!#%.)%*(1&%#&*?!"#@.&?("G.%&'"#F%5&()/&.A#)#?*Ap&A#??C)*%>&/[email protected]#!?.)%9&F5*A5&A()&,.&-..)&*)&%5.&A(-.&#B&%5.&Asociación de

pequeños productores de Talamanca D;__=;E&*)&2#-%(&a*A(3&<*)A.&,.A#?*)'&:(*"%"(/.&A."%*$./9&;__=;&5(-&(!!1*./&%5.&:(*"%"(/.&!"*A.&!".?*C?&()/&/*@."-*$./&%5.*"&!"#/CA%*#)&,>&'"#F*)'&,()()(-&D*)&(//*%*#)&%#&A#A#(E9&F5*A5&5(-&!"#@*/./&(&?#".&-%(,1.&-%".(?&#B&*)A#?.3&;__=;&has also used the additional funds derived from their Fairtrade price premium to establish a

-#A*(1&-.AC"*%>&BC)/&()/&,C*1/&(&).F&,"*/'.&B#"&%5.&1#A(1&A#??C)*%>3

`.0$W>$D0(B1,#$.8$D-.*.B)-$(*2$:.-)(,$C#'&/*%$.8$:&%'()*(+,#$?/(-')-#%

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=5.& "(!*/1>& '"#F*)'& /.?()/& B#"& -C-%(*)(,1.& A#A#(& A#C!1./& F*%5& %5.&"./CA./&"*-G&(--#A*(%./&F*%5&1.)/*)'&%#&!"#/CA."-&F5#&C-.&-C-%(*)(,1.&!"#/CA%*#)& !"(A%*A.-9& BC"%5."& ".*)B#"A.-& %5.& !#%.)%*(1& B#"& -CAA.--BC1&*)@.-%?.)%&#C%A#?.-&B#"&,#%5&$)()A*."&()/&!"#/CA."3

Conclusion

e)&%5.&AC"".)%&A#)%.^%9&`;2&(".&F.11&!#-*%*#)./&%#&A#)%*)C.&%#&.^!()/&%5.*"&"#1.&(-&%5.&F#"1/&1.(/."&*)&-C-%(*)(,1.&A#A#(&!"#/CA%*#)9&(-&!("%&#B&(&,"#(/."&-%"(%.'>&%#&".%(*)&%5.*"&"#1.&(-&%5.&1.(/*)'&-#C"A.&#B&5*'5&yC(1*%>&()/&$).&A#A#(3&;&1(AG&#B&*)@.-%?.)%&*)&-C-%(*)(,1.&A#A#(&@(1C.&A5(*)-&*)&`;2&".!".-.)%-&(&?(L#"&A#)-%"(*)%&AC"".)%1>&1*?*%*)'&%5.&".'*#)-&!#%.)%*(1&'"#F%53

=5.&/[email protected]#!?.)%&#B&-C-%(*)(,1.&A#A#(&?("G.%-&*)&`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

M*%5&?(L#"&!"*@(%.&-.A%#"&!1(>."-&-CA5&(-&b"(B%9&0("-9&H.-%1U&Y("">&2(11.,#C%&A#??*%%./&%#&*)A".(-*)'&%5.*"&-C-%(*)(,1.&-#C"A*)'&!"(A%*A.-9&%5.&/.?()/&B#"&$)()A.&B#"&-C-%(*)(,1.&A#A#(&?("G.%-&F*11&#)1>&A#)%*)C.&%#&'"#F3&=5.&-C-%(*)(,1.&*)@.-%?.)%&#!!#"%C)*%>&!".-.)%./&,>&%5.&A#A#(&-.A%#"&5#1/-&!"#?*-.&B#"&?#".&-C-%(*)(,1.&!"#/CA%*#)&!"(A%*A.-&#)&%5.&'"#C)/9&()/&'".(%&!#%.)%*(1&B#"&(&?#".&-C-%(*)(,1.&`;2&A#A#(&.A#)#?>3

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade25

;!!.)/*^&eN&I1#,(1&2#A#(&_"*A*)'&N&M5.".&M.K".&(%&=#/(>

Source:INDEXMUNDI, FAST

G)3&/#$HN>$M.*'"$.7#/$M.*'"$?/)-#$I"(*3#%QI.-.($7%^$I.BB.2)')#%$7%^$Food

Source:INDEXMUNDI, FAST

!"

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Jan-90 Dec-90 Nov-91 Oct-92 Sep-93 Aug-94 Jul-95 Jun-96 M

ay-97 Apr-98 M

ar-99 Feb-00 Jan-01 Dec-01 Nov-02 Oct-03 Sep-04 Aug-05 Jul-06 Jun-07 M

ay-08 Apr-09 M

ar-10 Feb-11

USD

/mt

Futures Price 5 Year Average 10 Year Average 20 Year Average

5y Average: 2,691 10y Average: 2,168 20y Average: 1,731 Current (Dec 2011): 2,200

G)3&/#$HH>$I.-.($:1.'$?/)-#>$HPPOQNOHN

-20%

-15%

-10%

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0%

5%

10%

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ec-01 Jun-02 D

ec-02 Jun-03 D

ec-03 Jun-04 D

ec-04 Jun-05 D

ec-05 Jun-06 D

ec-06 Jun-07 D

ec-07 Jun-08 D

ec-08 Jun-09 D

ec-09 Jun-10 D

ec-10 Jun-11 D

ec-11

Cocoa Spot Commodity Index Food Price Index

I.//#,(').*%>2#A#(&%#&2#??#/*%>&e)/.^&N&Q8j2#A#(&%#&:##/&_"*A.&e)/.^N&6Qj2#??#/*%>&e)/.^&%#&:##/&_"*A.&e)/.^N&RQj

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade6]

M5*1.& A#)A.")& B#"& %5.& '1#,(1& .A#)#?>& ()/& (& -%".)'%5.)*)'&S<g&5(-& 1(%.1>& ,..)& !C-5*)'&A#??#/*%*.-&/#F)&(A"#--&%5.&,#("/9&A#A#(&5(-&,..)&5*%&.-!.A*(11>&5("/&".A.)%1>9&1("'.1>&/C.&%#&1("'."&%5()&.^!.A%./&(""*@(1-&*)&?(L#"&M.-%&;B"*A()&!"#/CA*)'&A#C)%"*.-&2#%.&gKe@#*".&()/&I5()(3

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable Trade6\

Tabke 1: Global Harvest Seasons of 

Cocoa

Jan. Feb. Mar. Abr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec.

Brazil

Cameroon

Colombia

Costa Rica

Ecuador

Ghana

Indonesia

Ivory Coast

Malaysia

Mexico

Nigeria

Papua New 

Guinea

Peru

Trinidad and 

Tobago

Venezuela

Source: ‘Peru Export Goods’, Peru Export and Tourism Promotion Board, PromPeru, October 2009

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References

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A Brief Overview of the Sustainable Cocoa Sector in Latin America and the Caribbean Finance Alliance for Sustainable TradeX6

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