Sainsburys Launch GBP 1 Million Fairtrade Fund

Fri, 17 Aug 2007
 
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Sainsbury's is set to launch a £1m fund today to enable farmers and growers in the world’s developing countries to be part of the Fairtrade initiative .

The Sainsbury’s Fair Development Fund will be used to support Fairtrade initiatives and help to increase the standards of producers’ livelihoods over a four year period.

The fund – operated by Comic Relief, will help farmers find new routes to market their products and provide them with better deals, while organisations including the Fair Trade Foundation, Oxfam and Traidcraft will help the firm connect with farmers .

Some of the initial projects under consideration include aiding rural farmers in Uganda to sell dried fruits for export, and a credit fund for small-scale peanut farmers in Malawi to boost production by purchasing seeds or machinery.

Sainsbury’s chief executive, Justin King, said: "The fund will overcome barriers for poor producers enabling them to trade and therefore improve their livelihoods."

"This is why we’re supporting Fairtrade on an additional level and encouraging customers to support the Fairtrade label so they too can help communities in developing countries."

Nearly one in every five consumers (18 per cent) buy Fairtrade products each month, an increase of 7 per cent from 2005, according to retail research group IDG.

Additionally, sales of "ethical products" were increasing by 7.5 per cent per year, compared to a 4.2 per cent rise for grocery products as a whole, said the group.

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