Increase in sales reported for Fairtrade gold

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With Fairtrade Fortnight 2016 (February 29 to March 13) underway, positive volume growth in Fairtrade gold sent a strong signal that shoppers and businesses are standing up for Fairtrade, despite the tough market.

Fairtrade mining co-operatives in Latin American sold 170kg of Fairtrade gold to the global market, generating a premium of $340,000 (£240,260) on top of the selling price, to invest in community projects.

Estimated sales volumes of Fairtrade fine gold grew by a dramatic 440% in the UK in 2015. Meanwhile the number of registered goldsmiths using Fairtrade gold across 11 markets increased to 389, 142 of which are UK based.

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Chief executive officer of the Fairtrade Foundation, Michael Gidney, said: “These figures show that British shoppers remain committed to Fairtrade. That’s good news for those businesses offering Fairtrade products.”

For 2016, the Fairtrade Foundation remains cautiously optimistic, with a range of businesses recently extending their commitments to buying on Fairtrade terms, with further business commitments expected to be made later in the year.

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