Mondelez to invest $400 million in cocoa producers, sustainability
Mondelez International says it will spend $400 million in the next 10 years on cocoa producers, as it focuses on securing supplies of the main raw ingredient in chocolate. The company, which makes Oreo cookies and Cadbury chocolates, says that the investment includes $100 million in the Ivory Coast, which supplies more than one-third of the world's cocoa.
The company, which was created when Kraft Foods Inc. announced in October that it was spinning off its North American grocery business, says it will work with local governments, third-party organizations and cocoa suppliers to increase cocoa yields.