Cocoa producers, particularly in Africa have expressed worry over the introduction of new certification standards. They worry stems from the fact that they continue to receive an income below the poverty line.
While farmers should be pleased with its certification, producers are more concerned about certified sustainable cocoa. A sector that has seen the emergence of several sustainable certification standards in recent years.
This necessary overhaul of the system to make the sector more sustainable, does not change the living conditions of producers, particularly African producers who still live below the poverty line on less than a dollar a day.
Business China-USA : IMF expectations
Bad news for the African economy whose main trading partner, China, recorded a sharp 6% decline in growth in the third quarter of this year.
This is a record low growth for China, which has recorded its weakest performance in at least twenty-seven years. The 6.2% growth in the third quarter of this year is due to increasing downward pressure from the economy.
The fall could also have a strong impact in Africa, as Beijing is the continent’s largest trading partner, with an estimated trade volume of more than $170 billion in 2018.