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.
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.