mikmik121 reblogged
Lindt, Mondelēz, and Nestlé together raked in nearly $4 billion in profits from chocolate sales in 2023. Hershey’s confectionary profits totaled $2 billion last year. The four corporations paid out on average 97 percent of their total net profits to shareholders in 2023. The collective fortunes of the Ferrero and Mars families, who own the two biggest private chocolate corporations, surged to $160.9 billion during the same period. This is more than the combined GDPs of Ghana and Ivory Coast, which supply most cocoa beans. Decades of low prices have made farmers poorer and hampered their ability to hire workers or invest in their farms, limiting bean yield. Old cocoa trees are particularly vulnerable to disease and extreme weather. Many farmers are abandoning cocoa for other crops, or selling their land to illegal miners.
Source: oxfam.org
