Cocoa Project Will Get 15 Million Euros From Nine Companies
Nestle SA (NESN), Archer-Daniels-Midland Co. (ADM) and Kraft Foods Inc. (KFT) are among nine companies that agreed to invest 15 million euros ($19.4 million) in so-called sustainable cocoa in West Africa and Indonesia.
Some 300,000 cocoa farmers are involved, according to a statement e-mailed today by the Sustainable Trade Initiative in Utrecht, Netherlands. The first projects will run from this year to 2015 and aim to boost yields to at least 1,000 kilograms (2,204 pounds) a hectare (2.47 acres), it said.
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