WACOT Limited, a leading agro-allied company in Nigeria and member of the Tropical General Investments (TGI) Group, has joined forces with Cocoasource, a Swiss commodity trading company, in a strategic alliance to provide Rainforest Alliance Certified Cocoa to global bean processing companies and chocolate makers.
Rainforest Alliance Certified Cocoa signifies cocoa beans grown sustainably, supporting social, economic, and environmental pillars for rural communities. In this collaboration, Cocoasource will acquire 2,000 tons of cocoa from WACOT in 500-ton batches over a year, with potential for extension and quantity increase.
WACOT will supply cocoa through its Cocoa Sustainability program primarily in South-west Nigeria, focusing on Oyo, Ogun, and Osun States. The program involves registering smallholder farming groups and providing inputs, training, and capacity building to boost cocoa quality at harvest.
Yosola Onanuga, TGI Group’s Head of Sustainability, emphasized the commitment to sustainability, stating the partnership fosters a responsible cocoa ecosystem, not just trading cocoa. She highlighted the benefits for farmers, including guaranteed procurement at market prices, immediate cash payments, and annual premium payments.
Cocoasource’s Sustainability Manager, Martin Rossi, stressed the importance of direct connections with cocoa producers for transparency. The alliance aims to build a more sustainable and transparent cocoa supply chain, distributing Rainforest Alliance Certified Cocoa to clients like GCB and Hershey.
Operational discussions included traceability flow charts and premium payments directly to farmers’ bank accounts. Plans for intensive training of cocoa farmers and potential expansion of the partnership were also addressed, with optimism expressed for future collaborations beyond the initial 2,000 tons of certified cocoa beans.
