Question

What is fair trade? Who are the beneficiaries of fair trade practices? How?

Answer 1

Fairtrade is an industrial arrangement designed to help producers in developing countries achieve better trading conditions. Fairtrade is about better prices, decent working conditions, and fair terms of trade for fanners and workers.
With fair trade, everyone is the beneficiary. Take examples of consumers, traders, and producers.

1. Consumers – Fairtrade relationship provide the basis for connecting producers with consumer and for informing consumers of the need for social justice and the opportunities for change. Consumer support enables fair trade organizations to be advocates and campaigners for wider reform of international trading rules, to achieve the ultimate goal of a just and equitable global trading system. Shoppers can buy products in line with their values and principles. They can choose from an ever-growing range of great products.
2. Traders / Companies – Since its launch in 2002, the fair trademark has become the most widely, recognized social and development label in the world. Fairtrade offers companies a credible way to ensure that their trade has a positive impact on the people at the end of the chain.
3. Producers – For producers, fair trade is unique in offering important benefits:

1. stable prices that cover the costs of sustainable production,
2. market access that enables buyers to trade with producers who would otherwise be excluded from the market,
3. partnership
4. empowerment of farmers and workers.