Category FAQs Search : Fair Trade
Question: The benefits of fair trade
Answer: One of the most important matters that arises from the question, ‘How does fair trade work?’ is identifying the pros and cons of fair trade. In order to understand the benefits of buying fair trade products, it’s essential to have an understanding of how the system works, and how it impacts people at both ends of the scale. How does fair trade work for farmers and producers, and how does it benefit consumers?
Fair trade offers a diverse range of benefits. Here are the most significant:
1. Economic advantages
The fair trade model works based on a minimum price. Setting a limit helps farmers and producers of products like coffee and fair trade bananas to increase their earnings, reduce the risk of poverty and increase the security of their jobs and household income.
Fair trade is also encouraging growers and farmers to work together to form stronger, more powerful communities and cooperatives, which have greater buying power. Economic gains also enable growers to invest in training to create better quality products. The extra income obtained from fair trade initiatives can also be injected into communities to develop better, more efficient farming techniques and increase the size and value of crop yields.
2. Benefits for the environment
Protecting the planet is a subject on everyone’s lips. Fair trade isn’t just beneficial for farmers and customers with a conscience. It also contributes positively to the environment. Fair trade regulations and standards protect and shield the environment, outlining key areas including reducing greenhouse emissions, conserving wildlife species and preventing the use of harmful chemical pesticides.
Fair trade also actively encourages farmers and growers to undertake training to help them better understand the environmental impact of agricultural practices and to improve yields while simultaneously doing their bit for the planet. More and more money is also being made available to invest in techniques and methods that combat climate change.
3. The human impact
Fair trade promotes equality. People who produce fair trade products have more control over their crops, they work in suitable, secure, safe environments, and they should not be subjected to discrimination or prejudice.
Fair trade revenue is also injected into community development and initiatives that target areas like housing, healthcare, and education. Fair trade programs have helped to improve and enhance the quality of life in many farming communities across the world, especially in rural areas where opportunities were limited.
(Source: Sell Merch, 16 Apr 2021)
Source Link: https://sellmerch.org/how-does-fair-trade-work-the-pros-and-cons-of-fair-trade/