Total loan: $57,000
Jakarta, , Indonesia / Agriculture
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A loan helped To increase incomes for rural cacao farmers in Indonesia during COVID-19 and beyond.
Indonesian cacao farmers are subject to volatile market prices which leads to low-and-insecure incomes. They often lack knowledge of sustainable agricultural practices which leads to low productivity and low margins. Krakakoa is an award-winning bean-to-bar chocolate company in Indonesia that helps smallholder farmers increase the quality and quantity of their cacao and, therefore, their incomes. They provide training workshops to farmers and a fixed price for cacao around 100% higher than world market prices for sustainably produced cocoa. Krakakoa has increased farmer incomes on average by 35%. The fixed price and training gives the farmers income security and increased incentive to actively improve their farming practices. Krakakoa has 60 paid employees and operates workshops training over 1,000 farmers living in the sensitive border areas. Like many businesses around the world, Krakakoa is unable to operate normally as a result of the crisis. As such, Krakakoa is requesting flexible working capital. This loan of $57,000 will help them weather this crisis and purchase cacao beans, providing an income to farmers they work with.