WASHINGTON (dpa-AFX) - Hershey Co. (HSY) Tuesday announced a five-year agreement with nine cocoa-producing cooperatives in Cote d'Ivoire.
The move is part of its 'Cocoa For Good' strategy, a 10-year, $500 million investment by the company to address the complex challenges facing cocoa farmers.
The announcement coincided with the annual National Cocoa and Chocolate Days held in Abidjan, Cote d'Ivoire.
'Improving farmer incomes requires a holistic approach and collaboration across public and private sectors,' said Tricia Brannigan, Vice President, Chief Procurement Officer for Hershey. 'Collaboration happens best when you have trust. Trust is built over time through strong, long-lasting relationships.'
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