SUN| Date Caramel & Peanut Butter

Prices for comparison use only

YEAR 2023

Bantu Chocolate Estate Cocoa Beans Price: £5.10
Fairtrade Cocoa Beans Price: between £2.00 and £2.50 -  $2.50 to $3.10
Cocoa Beans Commodity Price: £4.86 or $5.86 per kg
Slavery Free Cocoa Beans Price : £2.00 or $2.6 per kg

Farmgate Price:

• Ivory Coast: Approximately £1.34 or $1.62 per kg (1,000 CFA francs) GhanaWeb
• Ghana: Approximately £1.69 or $2.12 per kg (GHS 1,308.99 per 64 kg bag) GhanaWeb
• Cameroon: Can be around £1.99 to £2.92 per kg, depending on local prices GhanaWeb

This price is crucial because it directly impacts the livelihoods of farmers. This is the price that cocoa farmers receive for their beans when they sell them directly to middlemen such as traders or cooperatives. It reflects the local market conditions and can vary significantly between countries.

Cocoa Beans Commodity Price: £4.86 or $5.86 per kg

This price is determined on the global market 6months before the harvest and can take over a year between futures pricing, harvesting, processing, shipping, manufacturing, and distribution.. The commodity price is often higher than the farmgate price because it includes costs incurred by traders, shipping, and market fluctuations.

When commodity prices rise, traders and exporters, who buy from farmers at the farmgate price, tend to benefit the most. They can sell the cocoa at the higher market price while farmers often remain locked into lower farmgate prices.

YCharts
markets.businessinsider.com

Slavery Free Cocoa Beans Price : £2.00 or $2.6 per kg

While initiatives promoting Slavery Free Cocoa aim to create a more ethical and transparent cocoa industry, the additional compensation offered to farmers is often minimal—typically just a few cents above conventional market prices. This raises questions about the effectiveness of these programs in addressing the systemic issues of poverty and inequality that many cocoa farmers face.

Fairtrade Cocoa Beans Price: between £2.00 and £2.50 – approximately $2.50 to $3.10

While Fairtrade has made strides in advocating for better prices and working conditions, challenges remain. High certification and auditing costs can hinder farmers, and there’s no guarantee that premiums will consistently reach all producers. For instance, if there are too many farmers producing cocoa at a given time, premiums may be diluted, leading to some farmers not receiving their expected share. Consequently, this system can sometimes perpetuate existing power dynamics favouring corporations over smallholder farmers.

Corporations might leverage Fairtrade as a way to secure a consistent supply of cocoa without fully addressing the underlying issues of exploitation and poverty.

IndexMundi – Country Facts
markets.businessinsider.com

Bantu Chocolate Estate Cocoa Beans Price: £5.10

Our model not only reflects the value added through our direct involvement as both cocoa growers and chocolate makers but also acknowledges the necessity of providing farmers with an anker living wage. This approach ensures that farmers can achieve a decent standard of living and meet their needs, promoting equity within the supply chain.

Bantu Chocolate’s commitment to fair pricing benefits cocoa farmers directly and aligns closely with several UN Sustainable Development Goals (SDGs), such as:

• No Poverty (Goal 1): By ensuring fair wages, we contribute to alleviating poverty among cocoa farmers Fitch Solutions
  International Cocoa Organization
• Decent Work and Economic Growth (Goal 8): Our pricing strategy promotes economic growth and decent work conditions for farmers markets.businessinsider.com
• Responsible Consumption and Production (Goal 12): We advocate for sustainable practices in cocoa production, aligning our operations with responsible consumption Fitch Solutions
  markets.businessinsider.com
• Climate Action (Goal 13): By investing in sustainable farming practices, we address environmental challenges and promote resilience against climate change International Cocoa Organization
• Partnerships for the Goals (Goal 17): Collaborating with various stakeholders, we amplify our impact on sustainable development markets.businessinsider.com
  International Cocoa Organization
  .

By prioritising equity and transparency in our pricing, Bantu Chocolate seeks to create a more just and sustainable cocoa industry, where farmers are not only compensated fairly but also empowered to thrive.

Price Listed are for September 2024 and based on 1kg of cocoa beans. Transport and duties not included.

Year 2022

Cocoa beans commodity price – £ 1.65
Slavery Free cocoa beans price – £1.62
Fairtrade cocoa beans price – £1.81
Bantu Chocolate Estate cocoa beans price – £5.10

True cost

We believe that as a consumer, you deserve to know what costs are involved into making this product. Please note that we are a a start-up and there are a lot of costs we can't really account for - like transport, marketing, design, estate maintenance fees and our time but we did our best to be as transparent as possible.

• LABOR (U.K) £1.80
• INGREDIENTS £1.62
• PACKAGING £1.77
• VAT £1.00