Audio By Carbonatix
Fairtrade Africa, a subsidiary of Fairtrade International, a global agricultural organisation, lost about $14 million in premiums in 2020.
The organisation attributed the loss of revenue on the African continent to the Covid-19 pandemic.
According to the organisation, the pandemic impacted global supply chains and Fairtrade was no exception.
In Fairtrade Africa’s Annual Report for 2021, the earnings fell from about $64 million in 2019 to about $49 million generated in 2020.
Cocoa followed by flowers were the highest premium earners for Fairtrade.
However, flowers and plants recorded an increase in production of about $4.9 million in metric tonnes, from about $4.4 million in metric tonnes in 2019.
Cocoa was the second highest produced crop, but it fell in production from about 550,000 metric tonnes in 2019 to 530,000 metric tonnes in 2020.
Fresh fruit came third with about 370,000 metric tonnes. But it increased from about 190,000 metric tonnes in 2019.
Dried fruits were the least produced crop with 12 metric tonnes.
The report disclosed that premiums earned were used to provide services to communities and provide training and empowerment for workers under small-scale producer organisations and hired labour organisations for Fairtrade.
This, it believes will help the attainment of all the Sustainable Development Goals.
Fairtrade Africa products include banana, cocoa, sugarcane, coffee, dried fruit, nuts, cotton, tea, vegetables, wine grapes, herbs and spices.
Latest Stories
-
Access Bank urges youth-owned SMEs to embrace AI or risk being left behind
15 seconds -
What would Ghana look like if Prof Mills had completed his terms? – Prof Frimpong-Boateng
24 seconds -
KNUST Optometry 9th White Coat Ceremony advocates compassionate, visionary optometry care
5 minutes -
GEXIM-GHIB partnership to unlock global finance for Ghanaian exporters – GEXIM CEO
6 minutes -
Mid-Year Budget: Gov’t achieved surplus by compressing expenditure, not boosting revenue – Oppong Nkrumah
10 minutes -
Ghana’s flood crisis reflects institutional neglect, not just poor waste disposal – Prof Frimpong-Boateng
10 minutes -
NPP questions sustainability of govt’s economic gains ahead of Mid-Year Budget
10 minutes -
Photos: Mahama joins African leaders at AU health summit opening ceremony
19 minutes -
Police formally investigate woman after Brit stabbed to death in French village
31 minutes -
The beauty of disaster in Ghana: How politicians benefit from national tragedy
34 minutes -
Two Russians handed down jail terms for terrorism and spying in Angola
35 minutes -
High Court grants police assistance order for Receiver to take possession of Cheddar’s No. 1 Oxford Street Hotel
48 minutes -
Wontumi first casualty of ORAL, others could follow – Mustapha Gbande
54 minutes -
Foresters calls for protection of other urban forests following reversal of Achimota Forest declassification
56 minutes -
Majority, Minority clash over 44% debt-to-GDP ratio ahead of Mid-Year Budget Review
57 minutes