If IMO’s Social & FairTrade Certification is not product-specific, how is the fair trade premium determined?
The cornerstone of the IMO Social & FairTrade Certification is transparency. IMO requires that there is a fair trade premium. It should be fair to the buyer and producer and is paid into a fair trade fund that then can be used for agreed social projects or for paying higher farmgate prices to smallholder farms. The premium is generally recommended to be within the range of 10% the farmgate price, and should be agreed to in a contract so that IMO can follow it up.
Related Questions
- Can we obtain a Social & FairTrade Certification for our fair trade production project in the US or other developed nation?
- If Fair for Life Social & FairTrade Certification is not product-specific, how is the fair trade premium determined?
- If IMO’s Social & FairTrade Certification is not product-specific, how is the fair trade premium determined?
