What Does Fair Trade Mean and Why Is It Important?
Posted by Cindy Cunningham on
WHAT IS FAIR TRADE?
According to the Merriam-Webster Dictionary Fair Trade is defined as "a movement whose goal is to help producers in developing countries to get a fair price for their products so as to reduce poverty, provide for the ethical treatment of workers and farmers, and promote environmentally sustainable practices."
WHY IS FAIR TRADE IMPORTANT?
The prices for products in a global market can fluctuate wildly. Take Shea butter for example, prices can change unpredictably because of external issues such as global demand, weather or crop failures. While these fluctuations may not be a problem for larger manufacturers Shea butter is hand made by hand by the women of African villages. All though in many instances these women belong to co-ops the fluctuations can still make it challenging for them to stay profitable. When companies like Fra Fra's Naturals enter into a fair trade agreement we agree to pay a minimum price for Shea butter even if market value drops. Conversely, if the market value rises so does the price paid for the pFair Trade product so that growers are able to benefit from positively from surge.
Why Did Fra Fra's Naturals Become a Fair Trade Partner?
Fra Fra's Naturals goal is to serve and protect our customers, our suppliers, and our environment. In order to reach this goal we believe it is important to foster mutually beneficial relationships with our suppliers and ensure that we are globally responsible in way to supports living wages, sustainability and positive work environments.