Hershey has signed a five-year agreement with cocoa-producing cooperatives in Côte d’Ivoire. The pact is part of the company’s 10-year, $500 million investment addressing the range of challenges cocoa growers face, Hershey said.

Aimed at building enduring relationships with growers and a more resilient cocoa supply, the agreement was signed while National Cocoa and Chocolate Days were being conducted in Abidjan, Côte d’Ivoire. Côte d’Ivoire accounts for nearly 50% of the world’s cocoa production in most years.

Drafted as a memorandum of understanding, the agreement between Hershey, French commodities-trading company Sucden and nine cooperatives in Côte d’Ivoire seeks to partner with growers as a way to professionalize cocoa cultivation and improve the profitability of cocoa farming.

Investments in community resources to improve household well-being, steps to preserve the environment and strengthen farm resilience also are part of the pact.

“Improving farmer incomes requires a holistic approach and collaboration across public and private sectors,” said Tricia Brannigan, vice president, chief procurement officer for Hershey. “Collaboration happens best when you have trust. Trust is built over time through strong, long-lasting relationships.”

Hershey described the agreement as the latest in a series of investments the company has made to help boost grower incomes, prioritize the well-being of children and protect the environment.