Fairtrade cocoa sales rise 24 percent

LONDON (Reuters) - Cocoa product sales under the ethical Fairtrade label rose 24 percent in the second quarter of this year to 6.4 million pounds, the Fairtrade Foundation said on Wednesday.

In volume terms, sales rose 17 percent from the same period in 2007.

A spokeswoman said Fairtrade currently accounts for about one percent of the chocolate market.

The proportion is significantly lower than some other products with one in four bananas now sold under the Fairtrade label. The consumer label, which covers a wide range of products including fresh fruit, coffee and flowers, aims to give a better deal to works in developing countries.

(Reporting by Nigel Hunt; Editing by Michael Roddy)