WACOT, Cocoasource Partner To Drive Sustainable Cocoa Trading

WACOT Limited and Cocoasource, a Swiss commodity trading company have entered into a strategic alliance to supply rainforest Alliance certified cocoa to global bean processing companies and chocolate makers.

In the partnership, Cocoasource will acquire 2,000 tonnes from WACOT in 500-ton batches over one year, possibly both extending the duration and increasing the quantity.

WACOT will provide cocoa through its Cocoa sustainability programme primarily in Oyo, Ogun and Osun State.

The programme features registration and creation of small holder farming groups of cocoa producers who declared all their cocoa farms to WACOT for mapping and tracking.

About 3,500 farmers are part of the programme, with over 6000 hectares estimated to produce of 3000MT of cocoa annually.

The farmers have access to inputs such as improved varieties of cocoa and shade tree seedlings as well as Personal Protective Equipment (PPE) and capacity building training on (GAP), Good Environment Practices (GEP), Good Social Practices (GSP) and yield enhancement techniques (YET) to boost the quality of the cocoa at harvest.

TGI Group’s head of sustainability, Yosola Onanuga said that partnering with Cocoasource was a reiteration of the Group’s commitment towards sustainability, adding that the company is fostering a sustainable and responsible cocoa ecosystem.

“The guaranteed procuring of cocoa at prevailing market prices, with immediate cash payments, and annual anticipated Premium Payment on the volume of cocoa sold by the farmers (Sustainability Differential – An extra cash on sustainable cocoa sold) bolsters the farmers’ confidence in the programme. In the last four years, the company has supported tens of thousands of farmers,” She added.

In response, Cocoasource’s sustainability manager, Martin Rossi, emphasised the need for connecting directly with cocoa producers to ensure transparency.

“At Cocoasource, we believe in direct connections with cocoa producers, and our collaboration with WACOT aligns perfectly with this vision. This alliance is about transactions and building a more sustainable and transparent cocoa supply chain,” he said.

Under the terms of this alliance, Cocoasource will distribute Rainforest Alliance Certified Cocoa acquired from WACOT to its clients, including renowned entities such as GCB and Hershey.