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Cargill Pays Ivory Coast Cocoa Farmers $7.6 Million in Premiums

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Nov. 13 (Bloomberg) -- Cargill Inc. paid $7.6 million in certified cocoa premiums to farmers in Ivory Coast, the world’s biggest producer of the chocolate ingredient, in the 2011-12 season that ran through September.

About 26,500 farmers in 43 cooperatives certified by UTZ and Rainforest Alliance received the payments, the Minneapolis-based company said today in an e-mailed statement. This year’s payout raised farmers’ direct revenues by 17 percent on average, said Cargill, the largest closely held U.S. company.

To contact the reporter on this story: Isis Almeida in London at ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net