Kit Kat to be fairtrade

Confectionery giant Nestlé is committing to paying a reasonable price for cocoa as part of plans to make its Kit Kat chocolate bar Fairtrade.

From January, the company will pay cocoa suppliers in the Ivory Coast the current market price for the commodity, and no less than an agreed minimum of US$1,600 a tonne.

International Cocoa Organisation figures show cocoa is trading at US$3,535 a tonne. But poverty forces many suppliers to significantly drop prices to make a quick sale.

Nestlé will also pay a Fairtrade premium of US$150 per tonne to help providers invest in development projects, including building healthcare and education facilities.

The agreement will help boost sales for 6,000 certified vendors in the Ivory Coast Fairtrade cocoa group, Kavokiva.

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