Nestlé to help cocoa farmers as global market prices rise

10/22/2009 | Reuters

Nestlé plans to spend $109 million on green initiatives in the next 10 years and today said it would help cocoa farmers produce more beans in the face of rising market prices and concern over global shortages. "This is unheard of for us and it is even predicted for next year, going into a fifth year," said a Nestlé executive after U.S. cocoa futures hit a nearly 30-year high in New York.

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